Health Insurance Rebate: taxable?

[pb4uski]

^^^^ +1

 

[sengsational]

That way makes sense. However the companies I know about are paying 100% of the rebate to the insured. Some people could have a zero premium and a multi -thousand dollar rebate.

I walked back from the mailbox a few weeks ago with a smaller rebate check, but yeah, I paid zero, and got a rebate!



I did wonder (for the shortest of moments) how this would be accounted for, tax-wise, but immediately the solution came to mind: type in the amount if the tax software asks about it. Otherwise go back to enjoying life.

 

[Animorph]

My rebate is in the form of a credit towards this year's premiums. I think there will be just enough to balance out after I leave the ACA plan in November, but that could screw up their plans. Sort of simplifies the tax situation, or maybe makes it more complex? We're probably using itemized deductions for both years, so that effect is probably a wash. But if we get some kind of an income statement to be entered on our 2019 taxes and have to deduct some hypothetical premium amount that we didn't exactly pay, it could be fun.