The process of finding out if you used the right amount of premium tax credit during the year. To reconcile, you compare two amounts: the premium tax credit you used in advance during the year; and the amount of tax credit you qualify for based on your final income. You’ll use IRS Form 8962 to do this. If you used more premium tax credit than you qualify for, you’ll pay the difference with your federal taxes. If you used less, you’ll get the difference as a credit.
Finding the Right Plan with MHC
If I'm enrolled in a plan this year, do I need to shop again for next year?
Maryland Health Connection P.O. Box 857 Lanham, MD 20703.