Ok. I'm going to keep this short. My wife, the beneficiary, moved to the US in December 2022. In January she received a job offer which she accepted - it offered very few benefits. We signed her up for ACA. After reading the information about the program, me, with an advanced degree, had difficulty figuring it out. First, there seemed to be little information provided on what the tax consequences would be if A happened or B happened. That made me suspicious right away. There was absolutely no way to figure the tax burden without knowing a ton of information that wasn't available. I immediately told my wife that we needed to put money aside each month to cover the full premiums because, as any American knows, or SHOULD know, government programs or government subsidized programs sound great on the sale but are never as good as what you were sold.
In October of 2024, my wife changed jobs. It had great benefits, including health and I was ecstatic. I was dancing on the roof with glee because she was no longer on that awful ACA.
Now, I predicted it would happen and it did. I was grateful we put that money aside for the premiums because at tax time came the screw job from the government. For only 10 months of ACA our taxes skyrocketed and only because of the ACA. I was hoping at first it was a mistake, sweating, and waiting for every tax document to arrive; I ran all through FreeTax, TaxSlayer, TurboTax: all came back with the same result.
If you do meet with a CPA and he/she tells you that the calculation is wrong, please update as I would certainly be willing to file an amended return for my wife and I. However, and most importantly, I really want to make clear to everyone, when the government subsidizes something it is very rarely a good outcome for the taxpayer and you need to prepare for what will come down the road.