1095 Rule Calculator

The 1095 Rule Calculator can be used to estimate the amount of income tax based on health insurance premiums paid.

Input Parameters

Calculation Results

Calculation Formula

Tax Savings = Health Insurance Premiums * 0.075

Where:
Health Insurance Premiums: The amount paid for health insurance coverage. Tax Savings: The estimated tax savings from the health insurance premiums.

1095 Rule Calculator Calculator Usage Guide

Learn how to use the 1095 Rule Calculator calculator and its working principles

How to Use the Calculator

  1. Enter your annual income in the "Annual Income" field.
  2. Enter the total amount paid for health insurance premiums in the "Health Insurance Premiums" field.
  3. Click the "Calculate" button to see the estimated tax savings.
  4. Use the "Reset" button to clear all fields and start over.

Understanding the 1095 Rule

The 1095 Rule, also known as the IRS Form 1095, reports health insurance coverage information. This calculator estimates the tax savings based on the health insurance premiums paid. The formula used is:

Tax Savings = Health Insurance Premiums * 0.075

This is a simplified estimate and should not be considered as professional tax advice.