Health Coverage & Your Federal Taxes

Written By Stevie Hopkins

If you had a Marketplace plan and used the premium tax credit to lower your monthly payment, you’ll have to “reconcile” when you file your federal taxes. This means you’ll compare:

  • The amount of the premium tax credit you used during the year. (This was paid directly to your health plan so your monthly payment was lower.)

  • The premium tax credit you actually qualify for based on your final income for the year.

Any difference between the two figures will affect your refund or tax owed.

Stevie Hopkins https://AffordableHealthChoices.com
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