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Problem 7-15 The Affordable Care Act (LO 7.4) Susan and...

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Accounting

Problem 7-15
The Affordable Care Act (LO 7.4)
Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2023, Susan's income is $43,120 and Stan's is $17,430 and both are self-employed. They also have $500 in interest income from tax-exempt bonds. The Collinses enrolled in health insurance for all of 2023 through their state exchange but did not elect to have the credit paid in advance. The 2023 Form 1095-A that the Collinses received from the exchange lists the following information:
Annual premiums $9,800
Annual premium for the designated benchmark plan in the state $10,800
Compute the Collinses' premium tax credit for 2023.
Click here to access the 2023 FPL table .
Click here to access the 2023 Applicable Figure Table .
Round any division to two decimal places before converting to a percent. If required, round your final answer to the nearest dollar.
$fill in the blank 1
-21.00

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