Can anyone please explain whether I would need to pay back the premiums I received through Ambetter insurance, I had initially reported my income to be around the income level you are supposed to have to get premiums, however now due to recent cutbacks in the job I do I believe I’ll be below the poverty line. Would I need to then pay back the ambetter premium amount when 2026 tax season comes around. What should I do in this case?
Does Health Insurance Premium need to be paid
byu/Apprehensive_End1733 intax
Posted by Apprehensive_End1733
3 Comments
Does the good faith estimate work in my case?
Typically, if your income drops below the poverty line after you’ve already received subsidies, you aren’t forced to pay them back as long as your initial estimate was made in good faith. The IRS usually has a “safe harbor” rule that protects you from owing those premiums back if your income ends up lower than expected. Your best bet is to update your info on the Marketplace now so they can adjust your coverage and keep everything squared away for tax season.
The IRS has some estimators.
[https://www.irs.gov/affordable-care-act/affordable-care-act-estimator-tools](https://www.irs.gov/affordable-care-act/affordable-care-act-estimator-tools)