Subsidies Defined

 

 

SUBSIDIES

 

 

Subsidies defined:

• Subsidies are also called Advance Premium Tax Credit (APTC)
• These are advances on your annual tax return, not free money!
• If you report your income too low, you may be required to repay some or all of the subsidy.
• If you report your income too high, you may get additional credit on your tax return.

 



Healthcare Reform aka Obamacare

 

 

 

Open Enrollment Dates

 

 

 

Initial open enrollment is from 10/1/2013 through 3/31/2014.

 

•  10/1/2013 through 12/23/2013 receives 1/1/2014 Effective Date
• 12/24/2013 through 1/15/2014 receives 2/1/2014 Effective Date
• 01/16/2014 through 2/15/2014 receives 3/1/2014 Effective Date
• 2/16/2014 through 3/15/2014 receives 4/1/2014 Effective Date
• 3/16/2014 through 4/15/2014 receives 5/1/2014 Effective Date

After March 31, 2014 if you do not have coverage you will NOT be able to obtain coverage unless you have a qualifying event.  What is a qualifying event?  Job loss, birth of a child, marriage, etc.

Don't forget you can have an agent for no additional cost to you.