Health Insurance Discount. How does TT determine how much you qualify for??

[GlenA1]

HI, This is my first time using this "community" and  I hope I am in the right place and asking the question correctly.

My problem is that TT says that we qualify for $3790 for the health insurance discount from the marketplace. This is incorrect. My application with the marketplace shows that we qualify for around $11000 !  Where does TT come up with the figure it uses?

Because we actually did receive around 11000 in health insurance discount, TT says that we need to make up the difference. TT states that the discrepancy could be because we made more for the year than we estimated. This is also not true - we actually made less than we estimated.

This error is costing me $650 . How or where does TT determine what it THINKS we should qualify for, since it is so vastly different from the actual marketplace numbers?

Any advice on how to resolve this (or  for me to state the problem more clearly?)

Thank you!

GlenA1

[AmeliesUncle · Accepted solution]

The Marketplace does not determine the credit - your tax return does.

Your first step is to look at Form 8962 on your tax return.  Does Line 1 show the number of people in your family that you reported to the Marketplace?  Does Line 3 show approximately the income you reported to the Marketplace?

[GlenA1]

Thank you! You pointed me right to the area that I need to look - i.e the form where this is figured out. After review, I think that the problem is with how the market place filled out the form 1095-A. ( this is a long strung out story that I will not bore you with....). But, thanks again! I think I now need to go down a different path.

Best Regards,

GlenA1

[AmeliesUncle]

If you are thinking the 1095-A is wrong, I may be able to point you in the right direction if you explain why.

However, I suspect that it is not wrong.  But answering the questions on the Marketplace application can be quite confusing, so there is often a misunderstanding somewhere.

[GlenA1]

HI,

   I got it straightened out. The problem is that column B of the 1095A had all 0's. I found on the instructions that came with the 1095A form that there is a tax tool on healthcare.gov to figure out what should ACTUALLY be there. Went to healthcare.gov and corrected the 8962 form. All is good now. Thans so much for pointing me in the right direction!

Regards,

GlenA1

[AmeliesUncle]

Great, I'm glad you have it figure out!