Lost Subsidy

Have you lost your Premium Subsidy ?

The most common reason for losing your premium tax credit aka "Subsidy" is the reconciliation of your
actual income versus your estimated income and your premium tax credit was not reported on past
taxes.

This reconciliation would be reported on the 8962 form completed by your accountant. This is completed after you received the 1095A form from the marketplace or your insurance company.

Your premium tax credit reconciliation would be reported on line 69 on page 2 of your 1040:

If you made more money than you estimated, line 69 would indicate that tax would be due back
to the federal government
If you made less money than you estimated, line 69 would indicate a tax credit to you
In any case, line 69 should be completed with some value

If this was NOT completed – this is a common reason that you have lost your premium tax credit

If you fall into this category, you can take the following steps:

Check your 1040 from 2017, 2016 and 2015 to see if line 69 on page 2 was left blank. If that line was blank – especially for later years – you will need to get an amended tax return
Call the Health Insurance Marketplace 800-318-2596 to get the 1095A mailed to you

Other factors that affect loss of premium tax credit:

Change in household size: if you got married, divorced, had a baby or had a dependent age out (turned 26). Any change in the number of people on your tax return
Substantial change in income: either plus or minus 25% as compared to 2017 this would be the latest tax return filing that the marketplace has access to
Having filed an extension on your tax returns or if your 2017 taxes aren’t complete

Contact us – we can help!

Your Contact Information For Lost Subsidy

* Indicates required field

Name *

First

Last

Email *

Phone Number *

Address *

Line 1

Line 2

City

State

Zip Code

Country

2019 Premium Net *

Did you get your insurance through the marketplace? *

Yes No

Did you lose your premium tax credit? *

Yes No

Please list any that apply to you: *

Did not complete line 69 on page 2 of 1040 Filed an extention Did not complete taxes Change in household (see above) Change in income (see above)

Who is your agent? *

Comment *

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Trout Insurance Services

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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.

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