Gail in Virginia Posted September 28, 2021 Report Share Posted September 28, 2021 I received a refund check from the health insurance company that serves almost everyone in this region because the premiums collected were more than the benefits paid by more than the allowable amount. This is not income to me, but I assume that it does reduce the amount that I can claim as an itemized deduction or SEHI on my taxes. My question, really, is for those who pay no premiums because ACA completely covers their insurance. Is this a taxable event for them when they get back money they never paid in the first place? Quote Link to comment Share on other sites More sharing options...
Lee B Posted September 28, 2021 Report Share Posted September 28, 2021 (edited) https://www.irs.gov/newsroom/medical-loss-ratio-mlr-faqs Edited September 28, 2021 by jklcpa fixed link Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted September 29, 2021 Author Report Share Posted September 29, 2021 Thank you. It appears we are still waiting on guidance for that part of the law. And apparently it is income to me since i deducted it. First time it has ever been more than a couple of dollars for me. Quote Link to comment Share on other sites More sharing options...
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