TROUT INSURANCE SERVICES
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APTC Income 2023  &  Tax Form 1040
​
APTC (Advanced Premium Tax Credit)

Please use these Resources for Determining Your Estimated Premium Subsidy

Federal Poverty Level (FPL)
​A measure of income issued every year by the Department of Health and Human Services (HHS). Federal poverty levels are used to determine your eligibility for certain programs and benefits, including savings on Marketplace health insurance, and Medicaid and CHIP coverage.
​
The 2023 federal poverty level (FPL) income numbers below are used to calculate eligibility for Medicaid and the Children's Health Insurance Program (CHIP) and are used to calculate savings on Marketplace insurance plans for 2023.

2023 Poverty Guidelines Income Chart

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How federal poverty levels are used to determine eligibility for reduced-cost health coverage:
  • Income above 100%: If your income is in this range, in all states you qualify for premium tax credits that lower your monthly premium for a Marketplace health insurance plan.
  • High Income above 400%: For 2023- the "Income Cap" has been eliminated. Your subsidy will be calculated as % of income. For a younger single person age 35, these subsidies start to fall off at $75,000. For family of 4, mid 50's, subsidies are available to $350,000 and beyond. 
  • Income below 138% FPL: If your income is below 138% FPL and your state has expanded Medicaid coverage, you qualify for Medicaid based only on your income.
  • Income below 100% FPL: If your income falls below 100% FPL, you probably won’t qualify for savings on a Marketplace health insurance plan or for income-based Medicaid. NOT SUBSIDY.
  • North Carolina has not yet expanded Medicaid. 
Help Reconciling Your Tax Credit
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Estimate Your Income for 2022
To determine the premium subsidy–the Marketplace uses your "MAGI" (Modified Adjusted Gross Income). PLUS the full value of any Social Security Income. This is your total income.  Line 11 on your 1040. 

Include:
  • W-2 wages, salary for All household members.
  • Self Employment Income ( net) -  Lines 8.
  • Any, All  Social Security Income – Line 6 A.
  • IRA, Pensions, Dividends – Lines 2b,3b,4b,5b.
  • Capital Gains line 7.
  • Minus line 10 – Adjustments- like IRA contributions.
  • LINE 11  plus 6a – MAGI – “Where the Subsidy Magic Lives”  

Click on Image To Enlarge
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Remember  --  Your Premium Discount / tax subsidy is based on your ESTIMATED Income.

When you do your taxes for 2023 – the IRS will reconcile your ACTUAL with your ESTIMATE.

If LOWER --  You may get the difference in the subsidy calculation back on your tax.

IF Your Income is HIGHER – You will be responsible for the difference on your 2023 tax.

​We suggest you check your Estimated Income -  found on your eligibility statement with your actual income several times a year.  NOBODY likes surprises on their tax return.
 
​
If you work with a tax professional or CPA, share this with them.  In our view, as they do your return and work on your behalf with IRS; it the THEIR responsibility to work on this for you.  
Trout Insurance Services

Monday-Friday
9:00am-5:00pm & 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
​

contact@troutinsurance.com
Trout Insurance is an Independent Insurance Agency Based in WNC. 
Privacy Notice Statement  | Privacy Policy
“We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or call 1.800.Medicare to get information on all of your options.”
Trout Insurance is an independent authorized agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina (Blue Cross NC). The content contained in this site is maintained by Trout Insurance. Blue Cross and Blue Shield of North Carolina is an independent licensee of the Blue Cross and Blue Shield Association. ®, SM Registered marks of the Blue Cross and Blue Shield Association.”
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  • Insurance
    • Home & Auto Insurance
    • Medicare
    • Income Protection >
      • Disability Insurance
      • Long-Term Care
      • Critical Illness
      • Annuities
    • AARP - Hartford
    • Life Insurance
    • Health Insurance
    • Dental and Vision
    • Employee Benefits
    • Business Owners >
      • Group Health Insurance
      • Commercial Property & Liability
      • Business Overhead Expense Disability
      • Disability for Business Owners
      • Critical Illness
    • Short Term Health
  • Trout Team
    • Our Story
    • Dave Trout
    • Jessica Cody >
      • Home & Auto Insurance
    • Jeremy Sheridan
    • Robert Pugh
    • David Hanson
    • Jennifer Trout
    • Idelle Davids
    • Jan Trout
    • Steve Dillingham
  • Resources
    • Employee Success
    • Fixing the ACA "Family Glitch"
    • Aetna/CVS Health NC
    • Client Center
    • Reviews
    • Blog
    • Articles >
      • Health Insurance 2022
      • Friday Health
      • Comparing 2022 Plans
      • Insurance Partners
      • Best Value Insurance Plans
      • ARP Facts CMS
      • ARP Unemployment
      • ARP 2020 Excess Premium Subsidy
      • No Income Cap
      • Unemployment Glitch
      • Asheville Homesharing
      • 2019 Verification-a
      • BCBS Online Setup
      • APTC Income 2023 & Tax Form 1040
      • Lost Subsidy
      • Privacy Policy
  • Community
    • Alignment's 5-Star Switch
    • Employer Networking w/ Just Economics
    • FALLing with Families
    • Medicare New Era Event October 13th
    • Blue Ridge Pride Festival
    • Health & Wellness Fair
    • Goombay & YMI
    • Alignment Health Plans
    • YMI Winter Coat Drive
    • Medicare Seminar
    • Art in Autumn + MANNA
    • Music on Main
    • Western Women's Business Center Conference
    • Mural on Main Street
    • Expanded Team- Next Generation
    • Back to School
    • Weaverology
    • Mother Earth Food
  • Contact Us