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WC effect on ACA eligibility or tax credit
#1
Does anyone have knowledge or advice on the following scenario? I'm in GA but that probably doesn't matter to this question.

Last December I signed up for a health insurance plan for this year under the Affordable Care Act. With the earnings estimate based on my job at the time I qualified for a good premium subsidy. Then I was injured in mid-February and have been on TTD since; no release for work yet. It just occurred to me to wonder about how this may affect my ACA situation now and/or at tax time next year.

I understand that the WC wage replacement payments plus expense reimbursements such as for mileage - as well as lump-sum settlements - are not taxable income. Thus it seems likely I'll have difficulty reaching the minimum income level for ACA subsidy/tax credit. Is my understanding correct; am I right to worry about the tax implications? If so, is there anything I can do now or later to help the situation?

I wanted to ask this forum before possibly contacting the federal Marketplace folks. If anything is unclear, or more info would be useful, please let me know. Thanks.
 
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Messages In This Thread
WC effect on ACA eligibility or tax credit - CrushedHand14 - 07-21-2014, 03:26 PM

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