Retirement Withdrawal and Marketplace Subsidies Question (please help?)

So I’m between a rock and a hard place.

Probably losing my insurance through work due to medical issues.

Will have to get a plan through the marketplace. As of now I do qualify for subsidies since my income is pretty low. I’m going to have to draw from my retirement account though to survive on, which will be around $20k.

Will that count as extra income and screw over my subsidy? Or is it like separate and not really income since it’s already been counted in my gross income every year?

Trying not to end up with any surprises when I file my taxes.

Thanks for any insight some of you can offer!

submitted by /u/HungryHippolyta
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So I’m between a rock and a hard place. Probably losing my insurance through work due to medical issues. Will have to get a plan through the marketplace. As of now I do qualify for subsidies since my income is pretty low. I’m going to have to draw from my retirement account though to survive on, which will be around $20k. Will that count as extra income and screw over my subsidy? Or is it like separate and not really income since it’s already been counted in my gross income every year? Trying not to end up with any surprises when I file my taxes. Thanks for any insight some of you can offer!
submitted by /u/HungryHippolyta [link] [comments]Read Morer/HealthInsurance

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