Health Insurance and Your Federal Income Tax Return

What’s the most I would have to repay the IRS?

For the 2024 tax year, if you underestimated your income and received a larger tax credit than you were eligible for, you must repay the difference between the amount of premium tax credit you received and the amount you were eligible for. However, there are dollar caps on the amount of repayment you owe if your income is below 4 times (400%) the poverty level.

Repayment Limits for Advanced Premium Tax Credits, 2024 Tax Year

Income as
percentage of federal
poverty level
Maximum repayment amount
for a single taxpayer
Maximum repayment amount
for other
taxpayers
Less than 200% FPL $375 $750
200% to
less than 300% FPL
$950 $1,900
300% to
less than 400% FPL
$1,575 $3,150
400% FPL and above No limit; repay entire amount of excess tax credit No limit; repay entire amount of excess tax credit

While we have made every effort to provide accurate information in these FAQs, people should contact the health insurance Marketplace or Medicaid agency in their state for guidance on their specific circumstances.

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