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Deductions & credits
No, for the purpose of the Premium Tax Credit, it doesn't matter whether or not you used your insurance.
If your income is more than 400% of the federal poverty line and 8.5% of your MAGI is less than the SLCSP, you are eligible for a Premium Tax Credit to bring down the cost of the SLCSP to 8.5% of MAGI.
The effect of this temporary law is to provide some cost relief for taxpayers whose income is more 400% of the federal poverty line.
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‎February 22, 2024
3:06 PM