When Your Yearly Income Falls Short of Your Projections

As the year comes to a close, folks enrolled in the Marketplace whose projected yearly income falls short of the poverty line ($ 11,490 for single tax filer) are wondering, “What happens next?” 

Will the weigh lifted off of their shoulders only come crashing back down again when the numbers don’t match up?  

In short, no. The Health Insurance Marketplace (HealthCare.Gov) is responsible for determining eligibility for premium tax credits. Due to a Treasury Department rule, if the Marketplace estimates that a person is qualified for a subsidy, they are covered, regardless of year-end actual income. 

However, individuals whose income rises above 400 percent of the poverty level are required to pay back those tax credits in full. 

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