Individuals who received a federal subsidy/premium tax credit toward medical premiums via healthcare.gov in 2014--please see below FAQs and links: *Reporting Life Changes to healthcare.gov (this should be done monthly!): https://healthcare.gov/how-do-i-report-life-changes-to-the-marketplace/ *Changes in circumstances can affect your premium tax credit (report life changes when they occur): irs.gov/uac/Newsroom/Changes-in-Circumstances-can-Affect-your-Premium-Tax-Credit *What if my income turns out to be different from what I estimate? When you apply for coverage in the Marketplace, its important to double-check the information you put on your application. If the amount of expected income you report isn’t accurate, you may not get the right amount of premium tax credit. If you wind up making more money than you estimated on your application, you could have to pay back some or all of the premium tax credit you’ve received. You would make this payment with your next tax return. During the year, it’s important to report changes in your income or household size to the Marketplace as soon as possible. You can adjust your tax credit so you don’t wind up owing money or getting a big refund on your next tax return. Learn more about the premium tax credit from the Internal Revenue Service:
Posted on: Tue, 21 Oct 2014 13:08:15 +0000
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