2553 Instructions Form

2553 Instructions Form: What You Should Know

Enter all amounts for your employee to which you provided coverage because an employer offered insurance coverage to be provided to the employee. Line 4. Enter a separate “Additional Child” or separate “Additional Coverage Related To Employment” line.  Underline Required” if the employee is under 26 years old, but you are providing supplemental health insurance coverage to the employee. Line 5. If the Additional Child line, enter the number of children under age 22 who are dependent on the employee for more than half of their support. Add two additional “child dependent” lines for each child described under Line 4. Line 6. If the Additional Coverage Related To Employment line is the same number of children as Line 4, or if none of the children under Age 22 are your dependent children, enter: line 4 minus the number of children under Age 22, or line 2 minus the number of children who are your dependent children; or line 4 plus two additional lines for each dependent child under Age 22; or line 3 plus two additional lines as described in Paragraph 4. Line 7. Enter all credits and adjustments you claim for coverage provided to the employee under this section of the ACA, including credits and adjustments for any state minimum essential health coverage requirements.  If there are fewer than 3 credit units, add an “additional” line for each additional credit unit entered.  If there are more than 3 credit units, add one additional line for each credit unit you add.  Add an asterisk () to the number of the credit unit. Line 8. Enter all state income-based premiums (including subsidies) you paid for any employer-sponsored coverage, and if applicable, for any supplemental health insurance coverage. Line 9. Enter all deductions you claimed for premiums for or any credits you claimed for coverage provided to your employee.  If any state minimum essential health coverage requirements are applicable for health coverage provided to the employee because of an offer of health coverage from the employer, and the state requires the payment of the premium equivalent of a qualified high-premium health insurance premium, enter as much of the required premium as you believe you would incur for an equivalent health insurance premium. Line 10. Enter all state and federal income taxes, including any exclusions, deductions, and credits. Include only income before all credits and adjustments.

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