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8 Things Accountants need to tell their Clients about Health Reform

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Married? Must file jointly

If a couple is married - they must file jointly to receive the subsidy, even if only one person is applying for coverage thru the Marketplace. And the entire household income must be used to calculate their MAGI.  For same-gender couples - they also must file jointly.  The subsidy will not apply to child only coverage.

What the Tax Credit is Based On

The tax credit is calculated based on the maximum percentage of household income an eligible tax payer should pay for health insurance.  This percentage is applied to the “baseline Silver plan” which may vary by age and zip code. The resulting  tax credit -  a set dollar amount - may then be applied to any plan chosen.

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Reduced Cost Sharing

In addition to premium discount, folks with incomes between 100 – 250% of FPL  will quality for “reduced cost sharing” on Silver plans. These plans have lower co-pays, deductibles and out of pocket limits.
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Trout Insurance Services

Monday-Friday
8:30am-6pm & by Appointment


​Visit: 29 N Main St
Weaverville, NC 28787
     
Mail: PO Box 1414     
Weaverville, NC 28787  
Ph: 828.279.4681

Fax: 1.888.221.4842
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contact@troutinsurance.com
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Trout Insurance is a Full Service Independent Insurance Agency Based in WNC. 
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  • Coverage
    • Home & Auto Insurance
    • ACA-2021
    • Health Insurance 2021
    • Medicare
    • AARP - Hartford
    • Life Insurance
    • Income Protection >
      • Disability Insurance
      • Long-Term Care
      • Critical Illness
      • Annuities
    • Dental, Vision, Accident
    • Health Insurance 2020
    • Employee Benefits
    • Business Owners >
      • Employee Benefits
      • Group Health Insurance
      • Commercial Property & Liability
      • Business Overhead Expense Disability
      • Disability for Business Owners
      • Critical Illness
    • Short Term Health
  • About Us
    • Our Story
    • Dave Trout >
      • DT Landing
    • Jessica Cody >
      • JC Landing
    • Jeremy Sheridan >
      • JS Landing
    • Jennifer Trout
    • Jan Trout
    • John Phillips >
      • JP Landing
    • Steve Dillingham
  • Reviews
  • Client Center
    • Client Center
    • Resources >
      • Insurance Partners
      • Lost Subsidy
      • 2019 Verification-a
      • Renewal 2020
      • Privacy Policy
      • BCBS Online Setup
      • APTC Income 2021 & Tax Form 1040
      • Asheville Homesharing
  • Community
    • Music on Main
    • Manna Fundraiser
    • Western Women's Business Center Conference
    • Mural on Main Street
    • Expanded Team- Next Generation
    • Back to School
    • Weaverology
  • Blog
  • Contact Us