If you’re self-employed, you may deduct your health insurance premiums.

Health Insurance Fact 101: Your Coverage Can Affect Your Taxes

Here’s a fact that surprises a lot of taxpayers: Your health insurance coverage can directly affect your taxes — and sometimes your refund, too!

Whether you bought insurance through the Marketplace, got it through work, or didn’t have coverage at all, there are tax forms and possible credits (or penalties) tied to your health insurance status.

✅ Not sure if your health coverage affects your taxes? Let’s check together!

What You Need to Know

If you purchased coverage through the Health Insurance Marketplace, you probably received an advance premium tax credit to help lower your monthly premiums. But at tax time, you must reconcile that credit with your actual income — or you could end up owing money back.

If you didn’t have qualifying coverage for the year, some states (like California, New Jersey, or Massachusetts) still impose a state penalty for being uninsured.

And if you’re self-employed, you may be able to deduct your premiums — but only if you file correctly!

Health Insurance & Tax Forms

At tax time, you may receive:
✔️ Form 1095-A (if you used the Marketplace)
✔️ Form 1095-B or 1095-C (if you had other qualifying coverage)

These forms help determine if you got the right premium credits — or if you’ll owe a repayment.

👉 Confused by your 1095-A or health coverage questions? Book your free tax credit checkup here!

Did You Miss a Credit or Deduction?

If you forgot to claim the Premium Tax Credit, or didn’t report your health coverage correctly, you may still be able to fix it with an amendment and get back money you missed.

✅ Ask us how to amend your return for health insurance credits here!

We Make Health Insurance & Taxes Easy

At Acceptance Tax & Accounting, we help individuals and families:
✔️ Reconcile Marketplace coverage properly
✔️ Claim every credit you’re eligible for
✔️ Fix prior-year mistakes
✔️ Avoid penalties and surprises

📞 Click here to book your Health Insurance Tax Review today!

Your coverage matters — don’t let insurance mistakes shrink your refund! File with confidence today.