Jeff Janosick - Health Insurance Blog

Advanced Premium Tax Credit (Subsidy) Examples

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Here are a few examples of how Advanced Premium Tax Credits (subsidies) work ...


Example 1: Single individual, 45040 zip code, 60 years old, self-employed, gross income is $60,000 but after write offs and expenses, Adjusted Gross Income (line 37 of tax return) was $32,000. Based on Adjusted Gross Income income of $32,000, this individual would qualify for an advanced tax credit of $269.76 per month. So a Silver Level Humana plan that costs $459.11 would end up running this individual $189.35 a month after applying the advanced premium tax credit.


Example 2: Family of four, 45238 zip code, 38-year old, 35-year old, 4-year old, 3-year old, employed with no employer based health insurance, Adjusted Gross Income is $42,000. This family would qualify for an advanced tax credit of $511.93 per month. A Silver Level Humana plan that runs $632.34 would cost this family $120.41 a month after applying the advanced premium tax credit.



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