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- For the 2024 tax year, if you underestimated your income and received a larger tax credit than you were eligible for, you must repay the difference between the amount of premium tax credit you received and the amount you were eligible for1. There is no repayment cap if your actual income exceeds 400% of FPL2. If you used less of the premium tax credit during the year than you qualified for, you'll receive the difference as a refundable credit on your return3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.For the 2024 tax year, if you underestimated your income and received a larger tax credit than you were eligible for, you must repay the difference between the amount of premium tax credit you received and the amount you were eligible for.www.kff.org/faqs/faqs-health-insurance-marketplac…The repayment caps in 2024 and 2025 apply only when your actual income is below 400% of FPL. There’s no repayment cap if your actual income exceeds 400% of FPL — you will have to pay back 100% of the difference between what you received and what your actual income qualifies for.thefinancebuff.com/pay-back-aca-health-insurance …If you use more of your premium tax credit than your final taxable income allows, you'll need to repay the difference when filing your Form 1040 at tax time. But if you use less of the premium tax credit during the year than you qualified for, you'll receive the difference as a refundable credit on your return.turbotax.intuit.com/tax-tips/health-care/what-is-the-…
Questions and answers on the Premium Tax Credit
If my income changes and my premium subsidy is too …
Aug 22, 2024 · Premium tax credits are not available if you're eligible for premium-free Medicare Part A. HIO developed this calculator in 2024, using the IRS guidance about the premium tax credit and ATPC, as well as IRS Form …
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Feb 15, 2015 · Advanced Premium Tax Credit repayment limits are the maximum amount you have to repay if your income turns out to be higher than you initially estimated when you received Premium Tax Credits for health insurance.
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Apr 29, 2024 · The premium tax credit is a refundable credit that helps some taxpayers afford health insurance premiums. The advance PTC lowers the premiums themselves.
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Nov 8, 2024 · The Premium Tax Credit (PTC) is a refundable tax credit which a taxpayer claims in advance during a tax year. The amount of the credit is based on the taxpayer's income and the healthcare plan they enroll in through the …
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