The IRS has provided the 2017 monthly national average premium for qualified health plans that have a bronze level of coverage. This is important because taxpayers will use this information to determine the maximum individual shared responsibility payment under Code Sec. 5000A(c)(1)(B).
2017 Average Premium
Accordingly, the monthly national average premium for 2017 is $272 per individual. However, the premium is $1,360 for a shared responsibility family with five or more members. This guidance is effective for tax years ending after December 31, 2016.
2016 Average Premium
Further, the national average premium per month for qualified health plans with a bronze level of coverage offered on the Exchanges in 2016 was $223 per individual. In addition, the premium was $1,115 for a shared responsibility family with five or more members.
Rev. Proc. 2016-43, I.R.B. 2016-36, 316, is superseded.
Rev. Proc. 2017-48, 2017FED ¶46,339