ACA Affordability Calculator

 

Basic Filing Information:

Taxpayer's Name:
Tax Year: 48 states   Alaska   Hawaii
State expanded Medicaid? Yes   No  
Filing Status: TP 65 or older
SP 65 or older

Filing Threshold:
100% Fed Poverty Line:
138% Fed Poverty Line:
400% Fed Poverty Line:




Dependents claimed for exemptions: Not eligible for Medicaid

Household Income Information:

Enter amounts from tax returns only for those dependents who must file other than to obtain a refund of withholding or estimated payments.
Amount Location TP & SP Depend 1 Depend 2 Depend 3 Depend 4 Depend 5
AGI
Tax-exempt interest
Social Security Income
Taxable Social Security
Foreign Income
Form 1040 cap gain/loss Form 1040 line 13 }
Adjustments to income Form 1040 line 36
Main Home Sale exclusion Sched D & Forms 8949
Schedule D gains Sched D & Forms 8949
Business expenses/losses Sched C, lines 28 + 30

Total Comments Total dependent MAGI
For use in TaxSlayer
1095A reconciliation:

Household Income (MAGI) (for Form 8965) Used for affordability test
Gross Income Used for affordability test
Household Income (MAGI) (for Form 8962) Used for PTC/APTC calc


Affordability Income:

Total premiums paid through salary
reduction and excluded from income
Adjusted Annual Income = 
Affordability threshold at % = 

NOTE: This amount is compared with insurance premium costs to determine affordability in the next worksheet.

Affordability Worksheet: (Tests for Code A or Code G for Form 8965 part III)

Use Monthly or Annualized amounts 

Affordability threshold =  
Taxpayer Spouse Depend 1 Depend 2 Depend 3 Depend 4 Depend 5
Exempt by another code, MEC or GOV?
1. Lowest cost self-only policy
    offered by employer
2. Lowest cost family policy
    offered by employer
3. Amount from Marketplace Coverage
    Affordability Worksheet

  January
  February
  March
  April
  May
  June
  July
  August
  September
  October
  November
  December

ANNUALIZED COST FOR PERIOD:
PERCENT OF HOUSEHOLD INCOME:

Marketplace Coverage Affordability Worksheet

  1. Monthly lowest cost Bronze plan
      :
Go to https://www.healthcare.gov/tax-tool/
or to http://www.healthpocket.com
to get the lowest premium amount.
  2. Household income: Household income without untaxed Social Security
  3. Nontaxable Social Security: Includes nontaxed Social Security for all tax family members
  4. Add lines 2 + 3: Household income with untaxed Social Security
  5. Fed Poverty Line:
  6. Divide line 4 by line 5:
  7. Multiply line 6 by 100
      and look up: .
Value is from col 2 of the Form 8962 Instructions for line 7.
  8. Multiply line 4 by line 7:
  9. Divide line 8 by 12:
10. Monthly second lowest cost
      Silver plan
      :
Go to https://www.healthcare.gov/tax-tool/
or to http://www.healthpocket.com
to get the second lowest premium amount.
11. Subtract line 9 from line 10: Maximum PTC amount allowed (but limited by the Bronze plan cost)
12. Subtract line 11 from line 1: Cost to the taxpayer after PTC is applied
13. Return to the Affordability Worksheet above and click the "Click to test" button.

Please send corrections and suggestions to jeff@bogarthome.net