Covered CA Premiums

[MelO4]

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".  

[MaryK4]

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

[MelO4]

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. 

[MaryK4 · Accepted solution]

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

[MelO4]

Thanks so much for the clarification!  It all makes more sense now.