I’m in the process of buying marketplace insurance, but I’m currently unemployed and don’t know what the next year will bring. The software asked me to estimate my income, so I wrote down $17K and my tax credit is based on that. I’m in Georgia, which doesn’t have the medicaid expansion, so if I made under $12,500, I just wouldn’t be eligible for any of the plans. I’m assuming I’ll make over 12K, but there is definitely a chance that I won’t.
What would happen if the end of the year/tax time rolls around and I made, say, 10K? Would I be penalized for having purchased a healthcare plan I wasn’t eligible for and what would that penalty look like?
submitted by /u/phytolacca17
[link] [comments]
I’m in the process of buying marketplace insurance, but I’m currently unemployed and don’t know what the next year will bring. The software asked me to estimate my income, so I wrote down $17K and my tax credit is based on that. I’m in Georgia, which doesn’t have the medicaid expansion, so if I made under $12,500, I just wouldn’t be eligible for any of the plans. I’m assuming I’ll make over 12K, but there is definitely a chance that I won’t. What would happen if the end of the year/tax time rolls around and I made, say, 10K? Would I be penalized for having purchased a healthcare plan I wasn’t eligible for and what would that penalty look like?
submitted by /u/phytolacca17 [link] [comments]Read Morer/HealthInsurance