Your Health Idaho Tax Credit Calculator

How the Idaho Health Tax Credit Works

The Idaho Health Tax Credit is a state-level program designed to make health insurance more affordable for Idaho residents. The credit is available to individuals and families who purchase health insurance through the Idaho Health Benefit Exchange or the federal Marketplace.

The credit is phased out as income increases, reaching zero when income reaches the threshold amount. The credit can be used to reduce your federal income tax liability.

Eligibility Requirements

To qualify for the Idaho Health Tax Credit, you must meet these basic requirements:

• Be a resident of Idaho
• Have a valid Social Security number
• Be enrolled in a qualified health plan through the Idaho Health Benefit Exchange or the federal Marketplace
• Meet the income requirements for your family size

Income thresholds for 2023 are as follows:

How to Claim Your Credit

To claim your Idaho Health Tax Credit, follow these steps:

1. Verify your eligibility using the calculator above
2. Purchase health insurance through the Idaho Health Benefit Exchange or the federal Marketplace
3. File your federal income tax return
4. Include Form 8962 (Premium Tax Credit) with your return
5. Enter your Premium Tax Credit amount on line 13 of Form 1040

You can claim the credit even if you don't owe federal income tax, but you must still file a return to receive the refund.

Worked Examples

Example 1: Single filer with $20,000 income

For a single filer with $20,000 income:

• Income Threshold: $28,300
• Maximum Credit: $250
• Calculation: ($250 × ($28,300 - $20,000)) ÷ $28,300 = $250 × $8,300 ÷ $28,300 = $72.82

Example 2: Family of 4 with $35,000 income

For a family of 4 with $35,000 income:

• Income Threshold: $41,200
• Maximum Credit: $1,000
• Calculation: ($1,000 × ($41,200 - $35,000)) ÷ $41,200 = $1,000 × $6,200 ÷ $41,200 = $150.24