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I do not know, Steve, but as this is your first post,welcome to the board. Someone here ought to be able to answer your question or point you in the right direction.If a member of my "coverage family" obtains employment mid-year with full health care benefits:
1) how do I report that to "the marketplace", and
2) how do I compute the new APTC, and,
3) how does that get reported on next year's tax return?
Let's be nice. He's a new member.Why would anyone think an internet message board is the place to ask questions about their healthcare coverage?
But hey, if you want to read what the opinions of others are, there are many threads here to choose from.
3) how does that get reported on next year's tax return?
If a member of my "coverage family" obtains employment mid-year with full health care benefits:
1) how do I report that to "the marketplace", and
2) how do I compute the new APTC, and,
3) how does that get reported on next year's tax return?
I do not know, Steve, but as this is your first post,welcome to the board.
Someone here ought to be able... point you in the right direction.
What did you do the last time you modified your coverage?
What did you do the last time you modified your coverage?
I've never had to do that before.
It is considered a life changing event...........and you can change your coverage to suit the new situation.If a member of my "coverage family" obtains employment mid-year with full health care benefits:
1) how do I report that to "the marketplace", and
2) how do I compute the new APTC, and,
3) how does that get reported on next year's tax return?
I remember only checking a BOX stating that I had adequate Health Care for the Tax year?
Contact your insurance company. They'll certainly be able to help you with 1).
You would get another code number for the changes.............His new insurance company would be required to give you the new insurance I.d. number...................Might possibly have to file 2 forms for the year.........either way with no break in coverage you wouldn't be subject to the fines.....................I remember only checking a BOX stating that I had adequate Health Care for the Tax year?
The check box on form 1040 is not a problem. Form 8962 is. It's not clear how 8962 would be affected by the change described in the original post. I've read all the relevant IRS documents and they don't seem to address this situation (which seems like a common situation to me).
Go to the market place directly................tell them whats up and how to deal with it................you will need to love elevator music.Contact your insurance company. They'll certainly be able to help you with 1).
My insurance company is very helpful with policy-related and medical issues. They politely decline to answer marketplace questions.
It is considered a life changing event...........and you can change your coverage to suit the new situation.
It would also be whether he is still claimed as a dependent.
I would call the Market place on this one.............and even send them the question in writing................I'd have to dig into the market place to find those answers myself...............quicker just to call them and see if they can give you the right answer.It would also be whether he is still claimed as a dependent.
Right. That's the part I'd like to understand more clearly. For example, would we have to pay back the advanced premium tax credits that were already given during the unemployed period?
Do you have a link where I could read more detail concerning this? I think the secret is buried in form 8962, but detailed explanation of that form, along with examples, is lacking (note: I have carefully read i8962 instructions but they are not as clear and thorough as other tax forms I have used in the past).
Go to the market place directly................tell them whats up and how to deal with it................you will need to love elevator music.
If a member of my "coverage family" obtains employment mid-year with full health care benefits:
1) how do I report that to "the marketplace", and
2) how do I compute the new APTC, and,
3) how does that get reported on next year's tax return?