OK thanks to the American Rescue Plan Act of 2021 (ARPA) and last year's Coronavirus Aid, Relief and Economic Security Act of 2020 (CARES Act), we have a lot of income that may or may not impact your healthcare. If you have a good tax preparer do not hesitate to talk with them if you have questions. As this is only some of the simple guidelines. Here is the FAQ from the Healthplanfinder about the American Rescue Plan. It is a big deal and we have talked several times about the impact that is having on healthcare for good. Here we talked about it on our Podcast: Suzilla . Tax guideline chart On the Washington Healthplanfinder , there are two types of plans. 1. The Qualified Health Plans which can use Advanced Premium Tax Credits (APTC) to lower monthly costs. If the Income level is under 250% of poverty level then a household can also receive Cost Sharing Reduction (CSR) which lowers things like deductibles, out of pocket maximums and co-pays to increase household savings. ...
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