Covered CA Premiums

4 replies
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Why is the health insurance premium I paid to Covered CA ($40/month) not shown on 1095-A? Form 8962 calculates my contribution but doesn't deduct what I already paid monthly.

In the Medical Expenses portion of TT it says, "do not include health insurance if you got Form 1095-A".

TurboTax Home & Biz Windows

MaryK4Answer

Alumni - Intuit

Thanks for the clarification. The Covered California premium amounts do not get calculated for the federal tax subsidy- the federal formula uses the second-lowest-cost Silver plan where you live, but you pay Covered California "extra" for a lot better coverage above the federal minimum. @MelO4

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MaryK4

Alumni - Intuit

The 1095-A only shows the value of the premiums. TurboTax uses the 8962 for your medical expenses deduction.

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MelO4Author

Level 5

Thanks for the reply! I understand what the Forms are but if my Excess Advance Premium Tax Credit Repayment (Form 8962, Line 8b) says $500 and I paid a monthly premium each month of $40 (I only had it for 4 months) 4 months x $40 = $160 shouldn't I repay $340 ($500-$160)?

I guess what you pay monthly doesn't calculate into the repayment.

Thank you.