401(k) and HSA Contributions Have Decreased My AGI To Slightly Below ACA Qualification

What happens when income is lower than estimated on a Marketplace health insurance application?

For 2021, my AGI (of MAGI) will be slightly less ($500 – $1000) than the minimum income needed to qualify for insurance through the ACA — due to contributions I’ve been making to my 401(k). I can probably reduce the contributions for the remainder of the year and squeak by but I don’t want to do that if there is no penalty for having a slightly lower income than I estimated. I don’t qualify for Medicaid in my state if that makes a difference. Edit – HSA contributions were from earlier in the year when I qualified for insurance thru my job.

submitted by /u/juniesgotagun
[link] [comments]What happens when income is lower than estimated on a Marketplace health insurance application? For 2021, my AGI (of MAGI) will be slightly less ($500 – $1000) than the minimum income needed to qualify for insurance through the ACA — due to contributions I’ve been making to my 401(k). I can probably reduce the contributions for the remainder of the year and squeak by but I don’t want to do that if there is no penalty for having a slightly lower income than I estimated. I don’t qualify for Medicaid in my state if that makes a difference. Edit – HSA contributions were from earlier in the year when I qualified for insurance thru my job. submitted by /u/juniesgotagun [link] [comments]Read Morer/HealthInsurance

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