Correct. Both ARPA (which was just for 2021 & 2022) and the Inflation Reduction Act (2023, 2024 & 2025) have those of us who make over 400% of federal poverty level capped at 8.5% of income for health insurance premiums, with the remainder being subsidized by Uncle Sam. In addition, those under 400% get to continue enjoying the "enhanced" subsidies, meaning they pay less for health insurance as well, compared to the previous formula.
This has been singed into law, and should be considered settled as far as TurboTax software developers are concerned. Unfortunately, one of the Premium Tax Credit webpages on IRS.gov and their Instructions for Form 8962 cobbles together old and new language on the 400% cliff. This IMHO has led to confusion among TT staff and customer service reps, some of whom are saying that the software (as is) is working flawlessly. They are having difficulty understanding what Congress wrote and passed with both ARPA and the Inflation Reduction Act. I'm not entirely confident they will fix Form 8962, given all the mixed messages we've received.
