If I accept a taxable grant that makes my income quite a bit higher, will it affect my marketplace insurance cost?
03364
3 Replies
Vanessa A
Expert Alumni
Jan 25, 2022 8:32:25 AM
Yes, it will affect your Advanced Premium Tax Credit that is used to offset the cost of the premiums in the marketplace.
angel32869
New Member
Jan 25, 2022 8:43:56 AM
Even though I will be spending it all on my business? I have until Sept 2023 to spend it. I can't afford to lose my health insurance, so I won't accept a grant if that is going to happen.
ColeenD3
Expert Alumni
Jan 25, 2022 8:58:35 AM
What you do with the money is irrelevant. The point is that is in income in the year you receive it. Any increase in income can affect your marketplace insurance.