“One of the common questions is what happens with my premium if my income changes?”
This concern is very simple to answer, if your income changes, or if you add or lose members of your household, your premium tax credit will probably change too. It’s very important to report income and household changes as soon as possible.
- If your income goes up or you lose a member of your household: You’ll probably qualify for a lower premium tax credit. You may want to reduce the amount of tax credit you take in advance each month. This way you don’t wind up taking more credits than you qualify for.
- If your income goes down or you gain a household member: You’ll probably qualify for a bigger premium tax credit. You may want to increase the amount of tax credit you take in advance so you have a lower premium bill each month.
Simple as that! Remember if your health plan is expensive then that plan is not for you! Let us help to find the right plans that fit your family budget and protect the most valuable people of your life.
