Mike Desnoyers
- Total activity 125
- Last activity
- Member since
- Following 0 users
- Followed by 0 users
- Votes 21
- Subscriptions 64
Activity overview
Latest activity by Mike Desnoyers-
Mike Desnoyers created an article,
I got health insurance last year through a Marketplace plan and also received advanced premium tax credits to reduce my monthly premium. What happens if I don’t file my federal income tax return this spring? What if I file but don’t include Form 8962?
For any year when you received advanced premium tax credits, you are required to file a federal income tax return, including Form 8962. If you fail to do this — it is called “failure to reconcile”...
-
Mike Desnoyers created an article,
If I’ve not filed taxes in a prior year, how will the Marketplace determine my income?
If an applicant did not file taxes in a prior year, income will be verified by the Marketplace through use of electronic wage data. If the information cannot be verified electronically, the applic...
-
Mike Desnoyers created an article,
I’m a young adult, newly independent from my parents, and I have never filed my own federal income tax return before. Can I apply for premium tax credits this year? Will that pose any problems?
Yes, you can apply for premium tax credits this year. One challenge a young adult may face in their first year of financial independence from her parents can be verifying income. The Marketplac...
-
Mike Desnoyers created an article,
Do I have to file a federal income tax return to get a premium tax credit? My income is so low I’m not required to file a tax return.
Yes. Even if you don’t earn enough to owe taxes, if you receive a premium tax credit in a year, you must file a federal income tax return for that year. If you don’t file a return for a year in w...
-
Mike Desnoyers created an article,
My spouse and I qualify for a premium tax credit, but our doctors participate in different health plan networks so we want to sign up for two separate plans. Can we do that?
Yes. The Marketplace will allocate the monthly premium tax credit across the two plans. In most cases the Marketplace will allocate the monthly tax credit in proportion to the premiums for the two...
-
Mike Desnoyers created an article,
How do I apply for premium tax credits?
On the health insurance Marketplace web site, you will find an Application for Health Coverage and Help Paying Costs. Filling out the application online is the fastest, though you can also submit ...
-
Mike Desnoyers created an article,
Should I claim a premium tax credit in advance or at the end of the year or some of both?
That’s up to you. You can have 1/12 of your annual premium tax credit paid directly to your health plan each month to reduce your monthly premium right away. Or, if you can afford to, you can pay t...
-
Mike Desnoyers created an article,
How do the premium tax credits work?
Premium tax credits reduce your premium for most Marketplace policies. The amount of the tax credit you may receive depends on your income and the cost of Marketplace health plans in your area. Th...
-
Mike Desnoyers created an article,
Can I use the premium tax credit to reduce the cost of any Marketplace health plan?
You can apply the premium tax credit to any Bronze, Silver, Gold, or Platinum plan offered through the Marketplace. Premium tax credits cannot be applied to Catastrophic plans or to stand-alone den...
-
Mike Desnoyers created an article,
Can I get premium tax credits for health plans sold outside of the Marketplace?
No. Premium tax credits are only available for coverage purchased in the Marketplace. If you have more questions about tax credits and your health plan, agents are available to help. IHealthagen...