Problem 7-15 The Affordable Care Act (LO 7.4) Susan and Stan Collins live in Iowa, are married and have two children age
Posted: Sun Apr 17, 2022 7:06 pm
Problem 7-15
The Affordable Care Act (LO 7.4)
Susan and Stan Collins live in Iowa, are married and have two
children ages 6 and 10. In 2021, Susan's income is $43,120 and
Stan's is $12,000 and both are self-employed. They also have $500
in interest income from tax exempt bonds. The Collins enrolled in
health insurance for all of 2021 through their state exchange but
did not elect to have the credit paid in advance. The 2021 Form
1095-A that the Collins received from the exchange lists the
following information:
Compute the Collins' premium tax credit for 2021.
Click here to access the 2021 Applicable Figure Table.
Round any division to two decimal places before
converting to a percent. If required, round your final answer to
the nearest dollar.
The Affordable Care Act (LO 7.4)
Susan and Stan Collins live in Iowa, are married and have two
children ages 6 and 10. In 2021, Susan's income is $43,120 and
Stan's is $12,000 and both are self-employed. They also have $500
in interest income from tax exempt bonds. The Collins enrolled in
health insurance for all of 2021 through their state exchange but
did not elect to have the credit paid in advance. The 2021 Form
1095-A that the Collins received from the exchange lists the
following information:
Compute the Collins' premium tax credit for 2021.
Click here to access the 2021 Applicable Figure Table.
Round any division to two decimal places before
converting to a percent. If required, round your final answer to
the nearest dollar.