bpgdeg1234
Recycles dryer sheets
- Joined
- May 7, 2011
- Messages
- 119
Looking to see if anyone has any potential insight into the following healthcare.gov and Children Healthcare Insurance Program (basically child medicaid) situation:
We provided a family income estimate to healthcare.gov in 2015 enrollment for 2016 for a family of 4 which included a child under the age of 19. We qualified for a subsidy for all of us based on that estimate. The estimate dollar amount was above the Children Healthcare Insurance Plan (CHIP) income limits for a family of 4 so the child under 19 was also eligible for a subsidy to buy insurance via exchange versus getting redirected to state CHIP program.
Now seeing that our actual income may come in lower than what we estimated as one family member's income was lower and some other factors, the child under 19 would have been eligible for the state CHIP program and not warranted a subsidy to buy via the healthcare exchange.
It's too late at this point to do anything with CHIP as the year is over so we either just let it go at this point or look to add additional income for the year via a ROTH conversion or something to get to the estimated amount we provided? This particular situation isn't addressed during the income tax subsidy reconciliation process.
Any perspectives would be appreciated. Thanks.
We provided a family income estimate to healthcare.gov in 2015 enrollment for 2016 for a family of 4 which included a child under the age of 19. We qualified for a subsidy for all of us based on that estimate. The estimate dollar amount was above the Children Healthcare Insurance Plan (CHIP) income limits for a family of 4 so the child under 19 was also eligible for a subsidy to buy insurance via exchange versus getting redirected to state CHIP program.
Now seeing that our actual income may come in lower than what we estimated as one family member's income was lower and some other factors, the child under 19 would have been eligible for the state CHIP program and not warranted a subsidy to buy via the healthcare exchange.
It's too late at this point to do anything with CHIP as the year is over so we either just let it go at this point or look to add additional income for the year via a ROTH conversion or something to get to the estimated amount we provided? This particular situation isn't addressed during the income tax subsidy reconciliation process.
Any perspectives would be appreciated. Thanks.