Question: I currently qualify for premium assistance, falling just under the income limit for our 4-person household. My son expects to attain a full-time job with employer benefits in August. Will this reduce the income level to 3-person, meaning no premium assistance? If so, would it be effective in August or retroactive to Jan 1?
Answer: You are committed to notifying Covered California when your son's coverage starts, so you will stop getting advance premium tax credits at that point - not retroactively. It remains to be seen whether the IRS system has the sophistication necessary to reconcile the annual tax credit to reflect the midyear change like this.