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Figure out your premium tax credit. Provide some household details to get your second lowest cost Silver plan (SLCSP) premiums. The second-lowest priced Marketplace health insurance plan in the Silver category that applies to you.
A tax credit you can use to lower your monthly insurance payment (called your “premium”) when you enroll in a plan through the Health Insurance Marketplace ®. Your tax credit is based on the income estimate and household information you put on your Marketplace application.
How you find out if you used the right amount of premium tax credit during the year. To reconcile, you compare two amounts: the premium tax credit you used in advance during the year; and the amount of tax credit you qualify for based on your final income. You’ll use IRS Form 8962 to do this.
A tax credit you can use to lower your monthly insurance payment (called your “premium”) when you enroll in a plan through the Health Insurance Marketplace®. Your tax credit is based on the income estimate and household information you put on your Marketplace application.
Learn how the health care law affects you at Healthcare.gov. The official site of the Health Insurance Marketplace. See your health insurance choices.
How to use your SLCSP to figure out your premium tax credit; How to know if your SLCSP information is correct on your Form 1095-A; Use a tax tool to find your SLCSP
Check if you might save on Marketplace premiums, or qualify for Medicaid or Children's Health Insurance Program (CHIP), based on your income. Or, find out who to include in your household and how to estimate income before you apply. You could save money on health insurance costs.
” your premium tax credit — compare the amount you used in 2023 to lower your monthly plan premium with the actual premium tax credit you qualify for based on your final 2023 income. Any difference will affect your refund or tax owed. Get a step-by-step guide to reconciling your premium tax credit. 4.
You may qualify for the Small Business Health Care Tax Credit that could be worth up to 50% of the costs you pay for your employees' premiums (35% for non-profit employers).
Use Form 8962 to reconcile your premium tax credit — compare the amount you used in 2022 to lower your monthly plan premium with the actual premium tax credit you qualify for based on your final 2022 income. Any difference will affect your refund or tax owed.