Health insurance

[jamesrath1970]

If my wife and I have our own separate policies for health insurance that we pay for ourselves, can we still file our taxes as married and filing jointly? Does that affect a tax credit for health insurance when we file taxes jointly?  We are looking at getting separate health insurance policies.

[Anonymous_]

@Critter-3?

[Critter-3 · Accepted solution]

Yes ... you can and should file jointly.  If you have or are getting ACA Marketplace insurance then getting one family plan would be better than 2 single plans. 

[jamesrath1970]

I am about to retire. They said if we each had a single plan it would be cheaper than a family plan by$300/mo, and they are allowed to provide two single plans for a married couple while on COBRA.  So that is why two single plans at this time is incentive. So back to question, two single plans yet file jointly on tax return-does this affect tax credit?

[Critter-3]

OK ...  so you are asking about non ACA plans.  The kind of private insurance you have has nothing to do with how you file your tax return.  It is usually better to file a joint tax  return even if you have two "single" insurance policies.  

[jamesrath1970]

Thank you.