Subsidy when Income Falls Too Low

benwrigh

Guru
100+ Post Club
308
We know that when you income exceeds the amount to qualify for a subsidy, you will have to pay it back on your taxes. Is this the same if you income falls too short to qualify?

Further detail, I am in Indiana, which did not expand Medicaid.

I have a client whose income is too low for the subsidy at where he thought his income would be, but too high for state coverage. He is self employed, so his income varies. His income is just a couple thousand short of a subsidy.

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I suppose my question was too hard, because the chat operator ended my session :err:


[3:01:52 pm]: Thanks for contacting Health Insurance Marketplace Live Chat. Please wait while we connect you to someone who can help.
[3:01:56 pm]: Please be patient while we're helping other people.
[3:02:08 pm]: Welcome! You're now connected to Health Insurance Marketplace Live Chat.

Thanks for contacting us. My name is Viviana. To protect your privacy, please don't provide any personal information, like Social Security Number, or any other sensitive medical or personal information.
[3:03:27 pm]: CALLER
What happens if my actual income falls below what is allowed to qualify for a subsidy? I know that if the income is too high, you have to pay the subsidy back on your taxes.
[3:03:47 pm]: Viviana
Thank you for your question today. It will take me just a moment to review and respond to your question.
[3:06:11 pm]: 'Viviana' has left the chat session.
[3:06:13 pm]: Your chat session is over. Thanks for contacting us, and we hope we've answered your questions. Have a great day.
[3:06:13 pm]: 12/4/2013

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Confirmed the question is too hard:


[3:07:31 pm]: Thanks for contacting Health Insurance Marketplace Live Chat. Please wait while we connect you to someone who can help.
[3:07:35 pm]: Please be patient while we're helping other people.
[3:07:42 pm]: Welcome! You're now connected to Health Insurance Marketplace Live Chat.

Thanks for contacting us. My name is Jon. To protect your privacy, please don't provide any personal information, like Social Security Number, or any other sensitive medical or personal information.
[3:07:53 pm]: CALLER
What happens if my actual income falls below what is allowed to qualify for a subsidy? I know that if the income is too high, you have to pay the subsidy back on your taxes.
[3:09:13 pm]: Jon
Hi, so that I can better help, please provide the state that you need coverage in.
[3:09:22 pm]: CALLER
Indiana
[3:09:49 pm]: Jon
I can answer your questions about the Marketplace and how you can enroll.
[3:11:11 pm]: Jon
If your state has extended Medicaid and you do not meet your states financial criterai then you may be placed on Medicaid.
[3:14:03 pm]: CALLER
Indiana did not explain Medicaid
[3:15:44 pm]: Jon
If your state has not extended Medicaid then you will be able to select a Healthcare plan from the Marketplace and pay your premium without the Advanced Premium Tax Credit. The cost will vary on the different parameters set by each state.
[3:17:09 pm]: Jon
Do you have any other questions that I can help you with?
[3:17:26 pm]: CALLER
My question is that: If I take the Advanced Tax Credit, then my income falls below the amount that qualified me for the credit, will I have to pay that back like I would if my income exceeded the amount allowed?
[3:18:58 pm]: Jon
Due to the nature of your question, I am going to refer your issue to an Advanced Resolution Center specialist who will research it and call you back within 2 - 5 business days.
[3:19:56 pm]: Jon
If you would, please provide your name, telephone number, and your preferred contact time.
 
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