I recently got married. My wife was on the healthcare exchange and receiving an advance tax credit toward her premiums. At this point, I can add her to my company health plan but it will only be for month of December. My question is how will the marriage (QLE) affect our taxes for 2022?
As I understand based on some research, she would lose the entire credit if we did married filing separate?
I also understood based on some research that there would be a formula for determining her actual tax credit that will be based on our now combined income?
My concern is whether the hit on her tax credit will be significant enough that we should add her for just month of December? Since I am currently in open enrollment, I can and plan to add her for 2023 but would not begin until January.
Also a factor is that she received a 90 day supply of an Rx that goes through December, so if we cancel that month of insurance, I dont know if they would come back and want that month of Rx reimbursed (and it is an expensive Rx without insurance).
It would obviously be easier to just add her during open enrollment, but I am concerned if they took away her tax credit altogether that we would be penalized significantly (her tax credit is around $800/month), and wondering if they said she was now not qualified for the credit, she would owe back all those 11 months that received it.
