Thứ Bảy, 21 tháng 11, 2020

[Question - Insurance] Healthcare dot gov offered me assistance on my monthly premium (Advance Premium Tax Credit) but I have a question about it..

So basically I applied with healthcare dot gov and they gave me $134/month that I can use towards my healthcare premium. This is terrific news because I cannot afford health insurance otherwise. Yay!

The only issue is this: they say that if I take more than I'm qualified for, I will have to pay it back in the future. I plan to go into a higher paying job at some point in the next year, and obviously I don't want to have to pay back thousands of dollars.

But here's where it gets weird: supposedly they lower your benefits if your income goes up (and you also have the option to cancel your benefits) so in theory I should owe nothing. Like say I make more money next month and they cut my benefits to $100.. then I shouldn't owe anything because they already took off the extra, right ?

Or if I get a much higher paying job and decide to cancel my benefits then in theory I shouldn't owe anything because I only accepted benefits during the period in which I was eligible for them?

So why would I end up owing money? Can anyone in this situation explain it to me and give me advice on what I could do?

Thank you!



https://ift.tt/eA8V8J Submitted November 21, 2020 at 11:15PM by blackberryabundant https://ift.tt/3kPQ75y

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