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gposey777
Returning Member

Health insurance premiums - Need explanation

On the Health Insurance Premium (step by step) It is unclear.  Do I enter the total cost for my plan for the entire year or for a single month?   If my plan costs $1000 per month, and I get a 800 health care subsidy credit so I pay out of my pocket $200 What would I put in the health care premiums field?   

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4 Replies

Health insurance premiums - Need explanation

Are you trying to fill in a form 8962 Manually ?   If you enter the form 1095-A into the program it will populate the form automatically.  

 

 

Vanessa A
Expert Alumni

Health insurance premiums - Need explanation

It sounds like you have insurance through the Marketplace.  This means you will not enter anything until you receive your 1095-A from the Marketplace.  You will enter this in the Health Insurance section by saying Yes I had insurance through the marketplace and yes I received a 1095-A.

 

Do not file your return until you get your 1095-A, as you need exact numbers for columns A, B and C.

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gposey777
Returning Member

Health insurance premiums - Need explanation

Yes, I talked with TurboTax and verified that  this should be zero since I get a subsidy.  Instead, I need to populate the 1095A.  That's where I would put my monthly cost, subsidy and where it would validate whether the subsidy was correct.   I'm running various end of year income scenarios which is why I'm trying to complete this manually for end of the year tax estimations

Health insurance premiums - Need explanation

What you want is impossible to compute without the actual figures on the 1095-A form ... at this point best you can do is punt ...  https://www.healthcare.gov/tax-tool/#/  ... do not try to populate the 8962 yourself ... instead enter the info on the 1095-A. 

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