Webbenchmark in this case is the second lowest silver plan that covers just Peter and Mary. The three lowest cost silver plans that cover Peter and Mary are Plans A, B, and C, which cost $9,800, $10,000, and $10,200, respectively. Plan B, which is the second benchmark in calculating the premium tax credit amount. Example 4: Members of a tax household WebThe Second Lowest Cost Silver Plan, is the silver plan with the second lowest cost and available in the area in which the taxpayer lives. To find this while searching the exchange, sort the silver plans by price and find the one available to you (and your family) with the second lowest cost.
Second lowest cost Silver plan (SLCSP) - HealthCare.gov
WebAug 19, 2024 · If Bob was earning 200% of poverty level when he got his 2014 plan, his MAGI was $22,980 (based on the 2013 poverty level) and his applicable percentage (the amount he had to pay for the second-lowest-cost silver plan) was 6.3 percent. So he had to pay $1,448 in annual premiums in 2014 ($22,980 x 0.063). WebTaxpayers who need to determine the applicable second lowest cost silver plan (SLCSP) premium. ... Ordering tax forms, instructions, and publications. Go to IRS.gov/OrderForms to order current forms, instructions, and publications; call 800-829-3676 to order prior-year forms and instructions. The IRS will process your order for forms and ... green and brown mucus from nose
Questions and Answers on the Premium Tax Credit
WebTo help you fill out the Form 8962 Premium Tax Credit, use this tool to find your second lowest-cost Silver plan premium amount. We will provide all of the information you need in Form 1095-A to file your tax return. This information is based on the details you provided when you enrolled. WebTo find your premium tax credit, use the table above to find the premium for the second lowest cost silver plan you could have had during that tax year. You might need tax tables … Webto calculate the cost of the Second Lowest Cost Silver Plan (SLCSP) for all 4 children. The Child Only Monthly Premium Amount is the cost per child, up to 3 children, for children ... The IRS defines “tax family” in the instructions for Form 8962. If you have further questions about who is in your tax family, please visit www.irs.gov or ... green and brown outfits