Author Topic: ACA Selection Question  (Read 272 times)

Rollin

  • Handlebar Stache
  • *****
  • Posts: 1190
  • Location: West-Central Florida - USA
ACA Selection Question
« on: November 02, 2018, 09:26:00 AM »
I noticed wen I was re-enrolling that I could choose three options: 1) have all credit apply to my insurance coverage; 2) apply some and get any remainder in my tax return; and 3) take no credit/pay full amount.

I chose to have all credit applied, but my premium was less than my credit. So, should I take the second option, maybe paying a small amount each month but getting more back in my tax return? Does it even work that way? Also, I enrolled so I wonder if I can change it depending on the answer here?

ACA Credit - $1800 (approximate)
Insurance cost - $1700 (approximate)

Paul der Krake

  • Magnum Stache
  • ******
  • Posts: 4348
  • Age: 10
  • Location: USA
Re: ACA Selection Question
« Reply #1 on: November 02, 2018, 09:39:35 AM »
Ultimately, it won't matter. You are entitled to the full credit, end of story. At the end of the year, you will reconcile what you have already "received" with what you are entitled to. See the following IRS guide:

https://www.irs.gov/affordable-care-act/individuals-and-families/premium-tax-credit-claiming-the-credit-and-reconciling-advance-credit-payments

Rollin

  • Handlebar Stache
  • *****
  • Posts: 1190
  • Location: West-Central Florida - USA
Re: ACA Selection Question
« Reply #2 on: November 02, 2018, 11:47:17 AM »
That makes perfect sense, thank you!

BTW did your sailboat pitchpole? :)