WebStep 1 - Tax Year Important If someone else is able to claim you as a dependent, you are ineligible for the credit. The person claiming you may be eligible for the credit. Only use the estimator if no one else can claim you as a dependent on the federal tax return. Please select the tax year: WebOct 18, 2024 · The Form 1095-A will tell you the dates of coverage, total amount of the monthly premiums for your insurance plan, the second lowest cost silver plan premium …
Premium Tax Credit Change Estimator - Taxpayer Advocate Service
WebFeb 19, 2024 · The Premium Tax Credit, used to offset the cost of premiums and make health insurance more affordable for taxpayers, uses the Second Lowest Cost Silver Plan as a base. You aren’t required to select this specific plan to be eligible to claim the credit. The Premium Tax Credit is determined by: Adding all income to calculate Household Income. WebThe Second Lowest Cost Silver Plan, is the silver plan with the second lowest cost and available in the area in which the taxpayer lives. To find this while searching the exchange, sort the silver plans by price and find the one available to you (and your family) with the second lowest cost. camping les roches clecy
What is SLCSP? - Intuit
Webbenchmark in this case is the second lowest silver plan that covers just Peter and Mary. The three lowest cost silver plans that cover Peter and Mary are Plans A, B, and C, which cost $9,800, $10,000, and $10,200, respectively. Plan B, which is the second benchmark in calculating the premium tax credit amount. Example 4: Members of a tax household WebOct 30, 2015 · Maximum monthly payment for second-lowest silver benchmark plan: $143 Monthly total premium of second-lowest silver benchmark plan: $335 Advance premium tax credit per month: $335 – $143= $192 Even if premiums rose from 2015 to 2016, the tax credit protects consumers from higher prices. Before tax credit, the monthly premiums … WebOct 26, 2015 · For a 40 year old making $30,000 per year, the average change after tax credits would be -0.2% (holding age and income constant). 2016 benchmark silver rates for a 40 year old will range from... camping les romarins eze