Author Topic: HealthCare Subsidies and Taxes  (Read 978 times)

sb_NoVA

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HealthCare Subsidies and Taxes
« on: April 07, 2018, 09:51:19 PM »
Helping my sister with her taxes.  She was a student in 2017 from Jan - Sept.  She enrolled in HealthCare.Gov plan in Oct, Nov, and Dec.  $250/month premium, $230 subsidy = $20/month.  From Oct - Dec, she made $3100, averaging about $1033/month from tutoring. 

Did she take healthcare subsidy correctly?  Clearly, her annual income is much below 100% FPL, but does 100% FPL apply to full year's income, or does it only apply to income for the months she had ObamaCare?   Any input is welcomed.  Thanks. 

jpdx

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Re: HealthCare Subsidies and Taxes
« Reply #1 on: April 09, 2018, 12:48:13 AM »
It sounds like she is right on the edge of Medicaid eligibility, which is determined by monthly income. Take 100% FPL and divide by 12 to find the monthly amount.

What happens if she enters everything including her 1095-A into Turbotax?
« Last Edit: April 09, 2018, 12:52:45 AM by jpdx »

sb_NoVA

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Re: HealthCare Subsidies and Taxes
« Reply #2 on: April 09, 2018, 09:33:16 AM »
Turbo tax asks her when her self-employment started, I select Oct - Dec and it seems to be okay.  No fines, or ineligibility messages.  Unfortunately, Virginia didn't expand Medicaid. 

 

Wow, a phone plan for fifteen bucks!