Health care Marketplace

DeanaJo
DeanaJo Member Posts: 2 Newcomer
in General

why do I owe federal taxes because I have Healthcare Marketplace insurance?

Comments

  • DaveT
    DaveT Member Posts: 72
    edited February 20

    Your actual AGI may now be higher than what you originally estimated when you started receiving your premium tax credits. If so, you have to pay back the amounts that you were not eligible for. That's the purpose of the Form 1095-A.

  • DeanaJo
    DeanaJo Member Posts: 2 Newcomer

    So because my income went up then I have to pay taxes due to my insurance?

  • DaveT
    DaveT Member Posts: 72
    edited February 20

    It's not a tax. You are paying back subsidized premiums based on your income.

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