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Follow on Google News | ![]() Obamacare. What is a Government Health Insurance Subsidy?Nevada Insurance Explains How a "Subsidy" is an Advanced Premium Tax Credit from the IRS
If your income is between 138% to 400% of the Federal Poverty Level you may qualify for a subsidy. Your income will be checked with the IRS records or a Federal Database, so if you claim a certain income, the "Exchange" will check with the IRS of your past years' income tax records before you can get approved for a subsidy. Be Very Careful Not To Get TOO MUCH Subsidy Why? Because you'd have to pay the extra subsidy back to the IRS. For example: If your health insurance premiums are $1,000/month and you get a Subsidy of $800/month and you only have to pay $200/month. At the end of the year when you do your taxes, the Government will check your income, IF you were only supposed to have received an Advanced Tax Credit (subsidy) of $700/month instead of $800/month, you'll owe the Government an extra $100/month X 12 months is $1,200. Read the full article: https://www.nevadainsuranceenrollment.com/ Learn more: https://www.nevadainsuranceenrollment.com/ Nevada Insurance Enrollment 4260 W. Craig Road suite #150-A North Las Vegas, NV 89032 (702) 898-0554 Website: NevadaInsuranceEnrollment.com End
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