Calculating Your Income Estimate
Figuring out your income estimate for health plans through the Health Insurance Marketplace is vital to receiving the accurate amount of subsidy assistance and lowering your premium. A good tool for estimating that figure would be your tax return.
- On the 1040 form, use Line 11 (Adjusted Gross Income) as the baseline for your estimate.
- From there, use your best estimate or speak with your accountant to help predict any gains or losses of income for the upcoming year.
- If you're receiving early Social Security benefits, you'll need to account for line 6a.
- Remember: You can adjust your income during the year if needed.
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