THE MALDEN ADVOCATE–Friday, April 25, 2025 Page 17 ADVANCE PREMIUM TAX CREDIT T he premium tax credit, is a refundable tax credit that helps eligible individuals as well as families that have low or moderate income afford the cost of health insurance purchased through the Health Connector for Massachusetts residents. In order to be eligible for the tax credit, taxpayers must meet certain conditions: • Have household income that falls within a certain range • You cannot file a “married filing separate” tax return • You cannot be claimed as a dependent on someone else’s tax return • In the same month (a coverage month), you or a family member: a. Must enroll in coverage through the Health Connector b. Are not able to obtain affordable coverage through an eligible employer-sponsored health insurance plan that provides minimum value c. Are not eligible for coverage through a government program, such as MassHealth(i.e. Medicaid), Medicare, CHIP or TRICARE d. Must pay the share of premiums not covered by advance tax credit payments During enrollment through the Health Connector, the Health Connector will determine if you are eligible for advance payments of the premium tax credit, also called advance credit payments. Advance credit payments are amounts paid directly to your insurance company on your behalf to lower your out of pocket cost for your health insurance premiums. It is the federal government that is funding the Advance Premium Tax Credit. The Massachusetts website is: www. mahealthconnector.org. When you enroll in coverage through the Health Connector, you can choose to have monthly advance credit payments sent directly to your insurance company. If you get the benefit of any advance credit payments in any amount or if you wish to claim the premium tax credit itself, you must file a federal income tax return, even if you are usually not required to file one. You must attach Form 8962, Premium Tax Credit, to your tax return to either claim the tax credit or to reconcile the advance credit payments made to your health insurance carrier. If you do not file this Form with your return, your tax return will not be accepted by the IRS when you go to electronically file your tax return. Furthermore, you will not be entitled to future advance credit payments. The Health Connector will provide you with Form 1095-A, Health Insurance Marketplace Statement. This form is necessary for you or your tax preparer to complete Form 8962. It contains all of the relevant information. Keep this in mind for the 2025 tax filing year. Every tax season, so too often, taxpayers do not submit Form 1095-A to their tax preparer. In this situation, the preparer cannot possibly prepare Form 8962 in order to attach to Form 1040. In fact, the preparer wouldn’t necessarily even know that the taxpayer had received advanced premium tax credits during a particular calendar year. The electronic filing will be rejected if no Form 8962 is included with the tax filing. Form 8962 can be prepared once the tax preparer has Form 1095-A. Joseph D. Cataldo is an estate planning/elder law attorney, Certified Public Accountant, Certified Financial Planner, AICPA Personal Financial Specialist and holds a master’s degree in taxation. Senior captain Kenton Nguyen sets up to return against Revere. (Advocate Photo/ Henry Huang) Malden Volleyball slips past Revere, 3-2, in key GBL matchup Golden Tornado Baseball comes all the way back in 4-3 walk-off win over Revere By Steve Freker M alden High Boys Volleyball kept its Greater Boston League title hopes alive with a key, 3-2 victory over Revere at home on April 16. Malden improved to 4-1 in the GBL, 5-2 overall with the win, while handing defending GBL champion Revere its second league loss (2-2 GBL, 3-2 overall). Leading the way for Malden were senior captain Kenton Nguyen, senior captain Edward Mei, junior Nick Li and freshman James Li. Malden has two big matches scheduled next week, at Everett High on Monday, April 28 and then a showdown with unbeaten Somerville at home at Finn Gym on Wednesday, April 30. *** Gavin and Layne lead Malden in comeback win over Revere to keep Tornado Baseball unbeaten at 8-0 Down 3-1 and also down to its Freshman James Li is ready for action for Malden against Revere. (Advocate Photo/ Henry Huang) straight regular season victories. Billy Gavin was the #1 star, as he lined a two-run double to left center to score two runs and tie the game at 3-3. Gavin also went the distance on the mound, scattering four hits and striking out 8 batters. *** Malden dropped its first game of the season, 7-3, to Medford on Patriots’ Day, but came back with a big, 9-4 win on the road over Lynn English to improve to 6-1 Greater Boston League, 9-1 overall. Malden hosts Greater Lawrence Tech at 1:00 p.m. today at Maplewood Park in the Champilast out, Malden High Baseball got a pair of clutch hits, scored three runs and snatched a win from the waste bin, 4-3, over Revere. The walk-off victory, sealed by a game-winning single by freshman Davante Layne, one of the leading hitters in the Greater Boston League, kept Malden’s winning streak alive, as the Golden Tornados went to 8-0. Going back to last season, when Malden finished the year with 10 straight wins, the team has set a school record with 18 onship Final of the 11th Annual Christie Serino Memorial Tournament. COMEBACK WIN: Junior Billy Gavin (left) and freshman Davante Layne (right) were the stars of the 4-3 comeback win over Revere. (Advocate Photo)
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