billr617
Level 3
03-06-2024
05:17 PM
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Thank you for the response. Could one make the argument that the "subsidized" premiums the IRS refers to were those that were actually reimbursed by a third party and not paid in full?
As opposed to employer "sponsored" plans .Say for example premiums paid in a year of $5,000 but $1,200 reimbursed for joining a health club thus only $3,800 deductible? Similar to the PSO $3,000 deduction?
Definition from healthcare.gov
Subsidized coverage
Health coverage available at reduced or no cost for people with incomes below certain levels.
Examples of subsidized coverage include Medicaid and the Children’s Health Insurance Program (CHIP). Marketplace insurance plans with premium tax credits are sometimes known as subsidized coverage too.
- In states that have expanded Medicaid coverage, your household income must be below 138% of the federal poverty level (FPL) to qualify.
- In all states, your household income must be between 100% and 400% FPL to qualify for a premium tax credit that can lower your insurance costs.
- If your income is at or below 150% FPL, you may qualify to enroll in or change Marketplace coverage through a Special Enrollment Period.
- If your income is above 400% FPL, you may still qualify for savings on a 2022 Marketplace health insurance plan.
From form 7206
Other coverage.
You can’t take the deduction for any month you were eligible to participate in any employer (including your spouse's) subsidized health plan at any time during that month, even if you didn’t actually participate.
Just a thought!
