I think i am double insured - please help!

[vsp61]

I signed up for a Medical Payment Plan at work and then my Affordable Healthcare plan rolled over from last year.  The plan at work says: "The Medical Payment Plan is supplement to Health Insurance and is not a substitute for Major Medical Coverage*. The benefit payments are not intended to cover the full cost of medical care." So I did not cancel my Marketplace plan. Now I am worried that I am going to have to repay all the premiums for the Marketplace. I only make 16,000 a year and those premiums add up to 12,000 for the whole year.  Since my work plan is supplimental I thought it was OK. Whats going to happen when I file taxes? and is there a cap on the payback?

Thanks in advance.

Worred user

[Anonymous_]

@Mike9241 @Critter-3

[AmeliesUncle]

It is based on if your employer's health plan provides "minimum value" or not.  Minimum Value basically means if the plan covers at least 60% of all anticipated costs for all of its participants.

I don't know anything about your employer's health plan, so I can't give you a definitive answer if it has "Minimum Value" or not.   But if it is covers some general medical expenses but not major medical expenses, I suspect it would NOT provide Minimum Value.   *IF* that is the case, you would still qualify for the full Premium Tax Credit.

If you do not qualify because your employer's health plan is considered to have "Minimum Value", a Single person at your income would only need to repay $350 for 2023.