When you sign up for a health insurance plan during the Marketplace Open Enrollment, you may be eligible for assistance to help pay your monthly health insurance premium based on your annual household income and family size. To estimate your household income used to determine how much assistance you could qualify for, check out our TurboTax Income Estimator calculator.
First, enter how many people in your household work. Then, enter the expected income for each person for each job. TurboTax does the math for you so you can quickly determine your household income to more accurately know how much assistance you should receive.
Open Enrollment for 2016 is November 1, 2015 – January 31, 2016. Your projected annual income or household size could change throughout the year, but you can use this calculator at any time to determine if the amount you used to apply for premium assistance is still accurate. If it changes, remember to report it to healthcare.gov or your state Marketplace to avoid any surprises when you file your taxes. Who knows? You may be eligible for more assistance.
TurboTax makes reporting health insurance on your taxes easy, while helping you get your maximum refund, guaranteed.