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Income changes are important especially if you start at a higher income, and then become unemployed, laid off, or get a lower paying job. By not reporting your changes, you are actually missing out on a better health plan and lower premiums. And then if you get a higher paying job, so you don't owe any taxes.
How Do I Qualify For ACA Health Insurance in 2025?
The federal poverty level is the minimum required income to qualify for a health insurance subsidy. Your household size determines the dollar amount. The more dependents you have, the level moves higher.If you are below 250% of the federal poverty level, you qualify for cost sharing reductions.
© Nebula Insurance Agency LLC. 2024
© Nebula Insurance Agency LLC. 2024