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Nevada Insurance Enrollment Warns To Be Cautious With Your Insurance Subsidy You Might Have To Pay It ALL Back

LAS VEGAS - eTradeWire -- If you received a Government subsidy last year for your Health Insurance, you could end up owing the IRS money.

Subsidies, they are great!  But you HAVE to get your income correct!  When you claim you will make a certain amount of money in a year and you receive a subsidy from the government to help pay your health insurance premiums, you must notify them of any changes.

If you forget to make an adjustment to your income or even your family size, and the government keeps subsidizing your health insurance, you will have that money taken out of your tax refund when you file your taxes.

We suggest that any time you have a change to your income or your family, that you call us.  Let us know of the changes and we will take care of everything.

If you've had a "Life Event" like having a baby, get divorced, married or adopt, and have a health insurance plan through the Governments website that has a subsidy, you've GOT to let them know.  This is an on-going process.  Anytime you fill out a health insurance application through their website and get a subsidy, you cannot expect to fill out the application once a year and figure you are done until the next year.  Any "Life Event" will affect your "subsidy" (including changes to your income), up or down.  These changes affect your advanced premium tax credit amount.

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Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554

Nevada Insurance Enrollment
Shelly Rogers

Source: Nevada Insurance Enrollment
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