Client with employer health insurance, marketplace July to October, Medicare after that. She's got an excess premium repayment of premium advance. Is this right?

Forum|Forum|6 years ago
December 7, 2019
20 replies
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Lacerte Tax

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Best answer by abctax55

NOW that we have more info, yes there can be APTC payback.

If your client was subsidized (that is what the marketplace is all about) AND her income pushed her over that 401% cliff, then part or all of the subsidy may have to be paid back.

Consider an IRA or HSA (if qualified) to try to get off the edge of the cliff.

abctax55Answer

Level 15

NOW that we have more info, yes there can be APTC payback.

If your client was subsidized (that is what the marketplace is all about) AND her income pushed her over that 401% cliff, then part or all of the subsidy may have to be paid back.

Consider an IRA or HSA (if qualified) to try to get off the edge of the cliff.

HumanKind... Be Both

J

joanneAuthor

Level 3

Oh boy. That's not what I wanted to hear. Thanks.

abctax55

Level 15

Explain "employer" heath insurance and marketplace. Those don't usually "go together".

HumanKind... Be Both

J

joanneAuthor

Level 3

Employer-provided health care

itonewbie

Level 15

Or do you mean your client was on employer health insurance until end of June? If you don't know, wouldn't this be a question for your client than this forum?

---------------------------------------------------------------------------------Still an AllStar

J

joanneAuthor

Level 3

I know that she was. I have the 1095B.

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