My son had health insurance in 2024 though the marketplace (Obamacare). His income in 2024 was much lower than expected primarily due to illness. The reported income on the 2024 tax return may be below the federal poverty limit (FPL). If so, will the low income jeopardize his eligibility for Obamacare in either 2024 or 2025? If eligibility remains, will a financial tax penalty be applied other than the routine reporting of the 1095A form? If yes, how much?
