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The Affordable Care Act and your 2014 taxes, Part II

The Premium Tax Credit (a.k.a. government assistance in paying for your government health insurance premiums based on financial need)

Beginning in the 2014 tax year, the Affordable Care Act enacted the Premium Tax Credit. It is designed to assist individuals and families with low to moderate income afford health insurance through the Health Insurance Marketplace (government sponsored exchanges). Continue reading “The Affordable Care Act and your 2014 taxes, Part II”

2018 Headshot 69

The Affordable Care Act and your 2014 taxes, Part I

 The Individual Shared Responsibility Provision and Payment (a.k.a. have health insurance or pay a fine)

With the Affordable Care Act (ACA), all individuals—including children—are required to have minimal essential monthly health insurance coverage for him/herself as well as all dependents for whom he/she is financially responsible. Here are some Q’s and A’s to help you understand. Continue reading “The Affordable Care Act and your 2014 taxes, Part I”