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Covered California Q&A

Covered California and Obamacare related questions from consumers, employers and agents are answered by Phil Daigle with the best information available at the time. Archived entries may no longer be accurate as the Covered California and Obamacare knowledge-base is evolving quickly. TO REQUEST A PERSONAL RESPONSE INCLUDE EMAIL ADDRESS.


Premium Assistance Options?

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Question: My income may go up during the year. I don’t want to have to pay a penalty for taking too much subsidy. How do they handle that?

Answer: If you are paid too much premium assistance during the year, the IRS will recover some or all of it through your tax return. The balance due is added to your taxes due for the year.

You can avoid having to repay excess premium assistance in several ways. (1) If your income increases during the year, update your Covered California account to reflect the income change and your subsidy will be reduced going forward. (2) You can elect to take less premium assistance on a monthly basis or (3) you can take all of your premium assistance in a lump sum at the end of the year.

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