If you bought health insurance through one of the Health Care Exchanges, also known as Marketplaces, you should receive a Form 1095-A which provides information about your insurance policy, your premiums (the cost you pay for insurance), any advance payment of premium tax credit and the people in your household that are covered .
Your income has to be within a certain range to qualify for the Premium Tax Credit. That income range is between 100% - 400% of the federal poverty level. As of 2020, the federal poverty level for most of the United States was $12,490 for a single person.
Multiply the total by 4 to get 400% of the level. Therefore, the eligible ranges for use with your 2020 taxes were:
- For one person: $12,760 - $51,040
- For a family of two: $17,240 - $68,960
- For a family of three: $21,720 - $86,680
- For a family of four: $26,200 - $104,800
- For a family of five: $30,680 - $122,720
- For a family of six: $35,160 - $140,640
- For a family of seven: $39,640 - $158,560
- For a family of eight: $44,120 - $176,480
For households with more than 8 people, add $4,480 for each additional person per year.
Poverty levels are higher in Alaska and Hawaii, where the cost of living is higher.
Where do I enter my 1095-A?
https://ttlc.intuit.com/community/credits-and-deductions/help/where-do-i-enter-my-1095-a/00/26456
