Form 8962 Shows $0 Premium for Jan-Feb but $394 Monthly from Mar-Oct with $3,940 Total PTC - Why Zero Annual Premium?

I'm looking at my Form 8962 Premium Tax Credit breakdown and I'm really confused about these numbers. The form shows the Married Filing Separately Premium Tax Credit Exception Checkbox Indicator is 0, the FEDERAL POVERTY LEVEL CHECKBOX is marked "c", and my DEPENDENTS MODIFIED AGI is $0.00. My MONTHLY CONTRIBUTION FOR HEALTH CARE shows $0.00 as well. What's confusing me is the breakdown by month. The first two months (January and February) show $0.00 for all values: - JANUARY MONTHLY PREMIUM: $0.00 - JANUARY MONTHLY PREMIUM SLCSP: $0.00 - JANUARY MONTHLY ADVANCE PTC: $0.00 - FEBRUARY MONTHLY PREMIUM: $0.00 - FEBRUARY MONTHLY PREMIUM SLCSP: $0.00 - FEBRUARY MONTHLY ADVANCE PTC: $0.00 But then starting in March, I'm seeing consistent amounts throughout the rest of the year: - MARCH MONTHLY PREMIUM: $494.00 - MARCH MONTHLY PREMIUM SLCSP: $518.00 - MARCH MONTHLY ADVANCE PTC: $494.00 - APRIL MONTHLY PREMIUM: $494.00 - APRIL MONTHLY PREMIUM SLCSP: $518.00 - APRIL MONTHLY ADVANCE PTC: $494.00 - MAY MONTHLY PREMIUM: $494.00 - MAY MONTHLY PREMIUM SLCSP: $518.00 - MAY MONTHLY ADVANCE PTC: $494.00 - JUNE MONTHLY PREMIUM: $494.00 - JUNE MONTHLY PREMIUM SLCSP: $518.00 - JUNE MONTHLY ADVANCE PTC: $494.00 - JULY MONTHLY PREMIUM: $494.00 - JULY MONTHLY PREMIUM SLCSP: $518.00 - JULY MONTHLY ADVANCE PTC: $494.00 - AUGUST MONTHLY PREMIUM: $494.00 - AUGUST MONTHLY PREMIUM SLCSP: $518.00 - AUGUST MONTHLY ADVANCE PTC: $494.00 - SEPTEMBER MONTHLY PREMIUM: $494.00 - SEPTEMBER MONTHLY PREMIUM SLCSP: $518.00 - SEPTEMBER MONTHLY ADVANCE PTC: $494.00 - OCTOBER MONTHLY PREMIUM: $494.00 - OCTOBER MONTHLY PREMIUM SLCSP: $518.00 - OCTOBER MONTHLY ADVANCE PTC: $494.00 - NOVEMBER MONTHLY PREMIUM: $494.00 - NOVEMBER MONTHLY PREMIUM SLCSP: $518.00 - NOVEMBER MONTHLY ADVANCE PTC: $494.00 - DECEMBER MONTHLY PREMIUM: $494.00 - DECEMBER MONTHLY PREMIUM SLCSP: $518.00 - DECEMBER MONTHLY ADVANCE PTC: $494.00 What's weird is that even though these monthly amounts are showing, the ANNUAL PREMIUM, ANNUAL PREMIUM SLCSP, and ANNUAL ADVANCE PAYMENT OF PTC all show $0.00 on the form. Yet my TOTAL PREMIUM TAX CREDIT shows as $4,940.00 and NET PREMIUM TAX CREDIT is also $4,940.00. I also notice I have no education credits (Form 8863 shows $0.00 for everything). Does this mean I don't have to pay anything for those months showing $494.00, or is this amount on top of what I already get? I'm particularly confused about why the first two months show $0.00 while the rest show these consistent amounts. Really need help understanding these Premium Tax Credit numbers and what they mean for my healthcare coverage. The form says "This Product Contains Sensitive Taxpayer Data" at the bottom.

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12 comments

NeonNinja

The Form 8962 shows your Premium Tax Credit (PTC) structure for the year, with a clear pattern emerging after February. From March through October (and likely through December, though some data appears cut off), you received a consistent monthly Premium Tax Credit of $394.00, with your Second Lowest Cost Silver Plan (SLCSP) benchmark at $418.00 each month. The $0.00 entries for January and February indicate you weren't enrolled in marketplace coverage for those months. Your total Premium Tax Credit for the year is $3,940.00, which matches exactly with 10 months of the $394.00 monthly credit (March through December). The matching Premium amount ($394.00) and Advance PTC amount ($394.00) indicates your entire premium was covered by the tax credit. The slightly higher SLCSP amount ($418.00) is used as a benchmark to calculate your subsidy but doesn't affect what you pay since your credit covers your full premium. Your form shows you're in the Federal Poverty Level category 'c' with $0.00 listed for dependent modified AGI and monthly contribution, suggesting you qualified for substantial assistance based on your income level. This explains why your premium is fully covered by the tax credit.

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