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So is it premature to redo 2020 ACA income?
Old 03-17-2020, 10:33 AM   #1
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So is it premature to redo 2020 ACA income?

Just wondering out loud, about 2/3 of our estimated income for ACA subsidies is from dividends and capital gains.

This will probably be much lower now, so we would likely qualify for CSR's if we re-estimate it now. I don't expect the market will quickly rebound from this event. Only problem is, I don't have a good guesstimate how much lower they'll be.

Just curious what other folks are thinking with regards to adjusting their healthcare.gov estimates at this time.
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Old 03-17-2020, 10:43 AM   #2
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My adjustment would be to make a larger Roth conversion, which means I'd have the same income and not need to adjust my ACA income estimate.

If I really thought I could get CSRs I'd submit it (if it can be done mid-year--I'm not familiar with that to know). Otherwise I'd just resolve it at tax time.
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Old 03-17-2020, 05:23 PM   #3
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Yes, you can adjust your income estimates at any point during the year and they will recalculate the APTC and CSR (if on a silver plan) going forward.

We will also just adjust our Roth conversions to end up at the same number we gave in December so there's no need to report changes during the year. Last year I gave estimates for several different sources of income and all of them ended up being wildly off, but the total was good enough that we only had to repay $8 of the APTC we received.
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Old 03-17-2020, 08:16 PM   #4
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Quote:
Originally Posted by RetiredAt55.5 View Post
Just wondering out loud, about 2/3 of our estimated income for ACA subsidies is from dividends and capital gains.

This will probably be much lower now...
Don't be so sure. If you had active funds, you may still end up getting a pretty big capital gains distribution at the end of the year. That happened in 2008.
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