I had ACA marketplace health insurance coverage beginning in Mar 2024 (premium actually was paid in Feb for Mar coverage), therefore I received Form 1095-A, as expected. No premium tax credit was reported or is due.
When itemizing medical expenses, TT states to NOT include premiums from Form 1095-A. I realize that the medical expenses worksheet pulls the data that you entered for Form 1095-A and uses those premiums in the itemized calculations.
However, the issue is that the premiums that I actually paid in 2024 differs from what is reported on Form 1095-A for two reasons:
1) The monthly premium reported on the form only reports "essential health benefits" and is a few dollars less than the actual premium that I paid each month; and
2) Since I pay my premium the month prior to the coverage month, I paid for the Jan 2025 coverage in Dec 2024.
So, when I itemize my medical expenses, insurance premiums captured in the software is less than what I actually paid in 2024. Should I make up for that shortfall by including the difference in the 'medical insurance premiums' box, or perhaps in the ‘tell us about any other medical expenses’ box?
I would expect to see a similar issue next year when the 1095-A reports my Jan-Dec 2025 coverage, but I could again account for the net differential for both the Jan 2025 and Jan 2026 coverage months.
