I guess you are talking about the money I paid and tax credits based on my income.
I researched and my analysis are below:
Say, hypothetically,
Single W2 income ! 180K$, Filing status is MFJ, wife does not work and a kid as dependent.
My employer do not offer any insurances. I have to pay from my pocket i.e., post tax dollars.
I am paying Kaiser through Covered California as 15K$ for the whole year.
Without tax credits it is 20K$ per year. In this scenario, I would be paying the remaining 5K$.
I am not entitled any credit because of the high income threshold.
Say, my income is 150K$, and I am suppose to pay only 14K$ per year and since I paid 15K$, I will get 1K$ due to the tax credit. In this scenario, I will be getting back the money. Assuming I am entitled for tax credit and did not hit the high income threshold.
I wrote the numbers for understanding and not actual numbers, used to understand tax credits.
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I am interested to see if I can get any other methods or any other way of doing forms, tax benefits because I am paying post tax dollars.
Regards
SSV
