2022 SLCSP Lookup - healthcare.gov only has 2021

[BulldogTom]

Trying to do an estimate.   Client wants to know how much APTC they may have to pay back.   I can't find any info online for the 2022 amounts.   Everything is for 2021.   Am I searching incorrectly?   Is there a place to find it?

Thanks

Tom
Longview TX
 

 

[Lee B]

That's because every year is indexed for inflation which won't be announced for another 4 to 6 weeks.

Although some states that administer their own marketplace have their own 2022 calculators up.

[BulldogTom]

26 minutes ago, cbslee said:

That's because every year is indexed for inflation which won't be announced for another 4 to 6 weeks.

OK.   Thanks.   I don't deal with these projections much, just the aftermath when they hit my desk in Feb/Mar.   Did not realize that the SLCSP price was not established (hence the PTC they can get is also not known) until after the taxpayer has used the insurance for 10 months.

Tom
Longview TX

[kathyc2]

Here is the link:  https://www.healthcare.gov/see-plans/#/

You need to be a little careful as SLCSP is not always obvious.  They only use the core medical to determine it, so plans that have dental or vision can skew the numbers. 

[BulldogTom]

@kathyc2  I am confused by this.   Do you have the time to educate me on it?   I put in the client information and it comes back with a $795 estimated PTC based on household size, age and family income.   Then it shows me all the plans.   I filtered on the silver plans.   Do I have to go through each of the 27 offerings and figure out which one is the second lowest cost?

Thanks

Tom
Longview, TX

[kathyc2]

There's a couple different ways to approach it. If you are putting in their financial data, it will calculate the credit based on SLCSP.  If they went through healthcare.gov rather than an agent, they can log in to their account and find out a lot of info.  Under messages there will be a message about marketplace eligibility.  This will tell them the income they used to apply and the amount of credit they will receive based on that income.  Since you say they want to know how much they will need to pay back, I assume their income is higher than what they used to apply.  Put in the higher income keeping ages, and people that same as when they applied to see what the credit would be at that level.  if the 795 credit is calculated on the new projected income, just take the difference between that credit and the credit when they applied to see the payback.  If they are under 400% FPL the payback may be limited.

If you don't know what the original credit is they received, then you need to go about it a little differently.  You will need to know the exact plan they chose and then calculate the difference between the full price plan and the amount they are paying.  That will give you the calculated credit when they applied. 

This probably isn't clear, so let me know which part needs further clarification.

 

 

[TexTaxToo]

Until the "tax-tool" is updated for 2022, you do need to look at the list of plans to find the 2nd lowest.  You should be able to filter on silver plans and sort by cost.

All other information you need is available but can be difficult to find and calculate.  The poverty level tables are at HHS.  For TY2022, use the 2021 table (not the 2022 table) from HHS or the federal register reference on this page:

https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines/prior-hhs-poverty-guidelines-federal-register-references

The "applicable figure" table normally adjusts for inflation, but they were changed and fixed for TY2021 and TY2022, so last year's table should work (and the IRA extended that change thru 2025).  The repayment limit tables do adjust for inflation.  The changes for TY2022 were published in RP-2021-45.