Refund

haiwen68 — Thu, 01 Apr 2021 19:56:34 GMT

Hi, I am unemployed in 2020, eligible for the NYS Essential plan of health insurance with $0 premiums. But I did not know about that when I applied for 2020 insurance in November 2019, pay the regular full price of $480/month January- November in 2020. Why I do not get any refund on a federal tax return?

Re: Refund

HelenC12 — Tue, 06 Apr 2021 14:27:19 GMT

To get the Premium Tax Credit (PTC) on your federal return, you need to have received form 1095-A. You receive a 1095-A if you purchased health insurance through Healthcare.gov or your state's health insurance marketplace. It should include info for everybody on your return who was enrolled in a Marketplace plan.

To enter your form 1095-A, see Where do I enter my 1095-A?
Note: If you income was too low and you qualified for Medicaid, you don't qualify for the PTC.

The Premium Tax Credit is a tax credit to help make health coverage more affordable when you purchase health insurance from Healthcare.gov or a state Marketplace.

You qualify for the credit if:

Your health insurance plan is purchased through Healthcare.gov or a state Marketplace
Your household income falls between 100% and 400% of the federal poverty level for your household size
You don't file as Married Filing Separately (with exceptions for victims of domestic abuse and spousal abandonment)
You can't be claimed as a dependent by another person

If you qualify, you can either take your tax credit as a monthly subsidy to help pay for your insurance costs or claim the entire credit when you file your tax return.

Related Information:

What if I don't have or lost my 1095-A?

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Refund

Re: Refund