Maryland's Official Health Insurance Marketplace

Why do I have to file my 2014 taxes to continue to receive financial assistance in 2016?

If you received financial assistance for your health plan in 2014 through Maryland Health Connection (in the form of a tax credit or cost-sharing reduction), you must file a 2014 federal tax return and include Form 8962 to remain eligible for financial assistance in 2016 (even if you are not otherwise required to file taxes). This is a requirement under the Affordable Care Act. Read more here about this requirement.

Your 2014 tax return is the tax return you file with the Internal Revenue Service in 2015.

You must file a federal income tax return along with a Form 8962 for any year that you have received financial assistance through Maryland Health Connection in order to remain eligible for tax credits and cost-sharing reductions through Maryland Health Connection, even if you have not been required to file taxes in the past due to your income or other circumstances.

If you fail to complete the tax-filing process, you will be responsible for the full cost of your health insurance premiums and all covered services without any financial assistance in the form of tax credits and cost-sharing reductions. In addition, the Internal Revenue Service may contact you to pay back some or all of the tax credits received in 2014.