2016 monthly national average premium provided

The IRS has issued guidance providing the 2016 monthly national average premium for qualified health plans that have a bronze level of coverage for taxpayers to use in determining their maximum individual shared responsibility payment under Code Sec. 5000A(c)(1)(B). An explanation of the methodology used to determine the monthly national average premium amount also is provided.

The monthly national average premium for qualified health plans that have a bronze level of coverage and are offered through Exchanges in 2016 is $223 per individual. The monthly national average premium for qualified health plans that have a bronze level of coverage and are offered through Exchanges in 2016 is $1,115 for a shared responsibility family with five or more members. The guidance is effective for tax years ending after Dec. 31, 2014.

SOURCE: Rev. Proc. 2016-43, I.R.B. 2016-36, September 6, 2016.

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