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?

[abctax55 · Accepted solution]

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.

[joanne]

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

[abctax55]

My biggest 'payback' this year was just shy of $ 23,000.

[joanne]

gulp

[joanne]

I just called her. She knew it was coming.

[abctax55]

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

[joanne]

Employer-provided health care

[abctax55]

I understand that...but if the employer provided insurance WHY was the marketplace involved?

[joanne]

BTHOM. (beats the hell outta me)

[itonewbie]

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?

[joanne]

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

[joanne]

I also have a 1095A for July to October and a C for Nov/Dec

[itonewbie]

But you didn't say that in your response to Anna.

[joanne]

Sorry, I'm juggling a lot of balls like all of you.

[abctax55]

"the marketplace" made me suspect, but to be honest, I've given up mind-reading for Lent. This job is hard enough as it is.....

[abctax55]

@joanne
Our answers can only be as good as the question/info provided.
Yes, we are ALL juggling right now.

[joanne]

of course. With the limited number of characters it's hard

[joanne]

to provide complete and accurate info

[abctax55]

There is NO LIMIT to the question area.  Only to the header.
Feel free to duplicate War & Peace.

[joanne]

LOL