Subsidy?

[cameronostrum]

I signed up in April for ACA this year in Florida. I did not have a job at the time, so I was found not eligible for subsidy. I have recently had enough income this year to now be eligible for subsidy. Do I need to submit this to healthcare.gov to get a new eligibility letter for doing my 2022 taxes in 2023? Or, will this be addressed in TurboTax without a updated eligibility letter?

[KarenL4 · Accepted solution]

Hi, 

Here is an excerpt from  what Healthcare.gov says about reporting changes in income:

"These changes — like higher or lower income, adding or losing household members, or getting offers of other health coverage — may affect the coverage or savings you’re eligible for. After you finish applying or enrolling, you may be asked to submit documents to confirm your income."

When you complete your taxes, you can enter the information from your Form 1095-A into TurboTax , which will use it to complete Form 8962, which is required if you received a premium tax credit.  Form 8962 will do the calculations to see what your final Premium Tax Credit should be and TurboTax flows that information to the correct portion of your tax return. Here is some more info on the Premium Tax Credit.

Cheer below if this helps!

Best,

Karen