Mom Left Me Money: Do I Owe Uncle Sam For My Health Subsidy?

An inheritance won't affect eligibility for a subsidy toward health insurance bought on an exchange.i

An inheritance won’t affect eligibility for a subsidy toward health insurance bought on an exchange.

ImageZoo/Corbis


hide caption

toggle caption

ImageZoo/Corbis

An inheritance won't affect eligibility for a subsidy toward health insurance bought on an exchange.

An inheritance won’t affect eligibility for a subsidy toward health insurance bought on an exchange.

ImageZoo/Corbis

When do people have to repay premium tax credits for health insurance purchased on the marketplaces? And does Medicare ever cover dental services? Read on to find the answers.

My 60-year-old sister lost her $45,000 a year job in 2014, and she and her husband bought a marketplace plan this year. They had estimated their annual income at $22,000, but then she inherited $30,000 from our mother’s estate. If I’m calculating correctly, they’ll have to repay $18,000 in premium tax credits. Are there no allowances made for a death in a family or unforeseen circumstances?

Fortunately for your sister, your calculations are incorrect. There are special circumstances that likely apply in her case.

The premium tax credits that

Article source: http://www.npr.org/sections/health-shots/2015/12/08/458807324/mom-left-me-money-do-i-owe-uncle-sam-for-my-health-subsidy?utm_medium=RSS&utm_campaign=affordablecareact

Tagged:

Comments are closed.