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Caluculating Your Obamacare Tax Credit
Caluculating Your Obamacare Tax Credit
Caluculating Your Obamacare Tax Credit
Caluculating Your Obamacare Tax Credit
Caluculating Your Obamacare Tax Credit
Caluculating Your Obamacare Tax Credit
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Caluculating Your Obamacare Tax Credit

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Step by step details on how to calculate your Obamacare tax subsidy using the healthedeals.com health care reform calculator.

Step by step details on how to calculate your Obamacare tax subsidy using the healthedeals.com health care reform calculator.

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  • 1. Calculating Your Obamacare Tax Credit How you can qualify for a premium tax credit, and who is eligible for a tax subsidy.
  • 2. Premium Tax Credits Starting January 2014, if you buy health insurance from the Obamacare marketplace, you may be eligible for a premium tax credit Who qualifies? – Individuals and families who purchase health plans from the state-based and federally facilitated exchanges Tax credits are based on household income
  • 3. Who is eligible? According to the IRS, to be eligible for a tax credit you must: − Purchase health insurance through the exchanges − Meet certain income limits − File a joint return, if married − Not be a dependent − Not be eligible for other plans
  • 4. Receiving your tax credit When it comes to receiving your tax credit, you have two options: − Request some or all of your estimated credit be paid in advance, which lowers your monthly premium throughout the year − Wait until 2015 when you file your 2014 tax return and receive the credit then
  • 5. Buy from Exchange, or not? Trying to decide whether or not to buy from an exchange? − Online calculators make finding out what credit you qualify for easy − The Health Care Reform Calculator at healthedeals.com has been recognized by Financial Times as one of its “Best Online Tools for the Toughest Health Questions”
  • 6. Need help? When in doubt, talk to a health insurance or tax advisor about Obamacare-related tax credits and cost-sharing subsidies. You can contact a healthedeals.com insurance advisor at: 888-839-7679

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