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Author Topic: Since the ACA is a tax? Cost Sharing Redictions on Silver Plans  (Read 1503 times)

money_bunny

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Since the ACA is a tax? Cost Sharing Redictions on Silver Plans
« on: January 05, 2017, 07:33:37 PM »
Greetings:

If I estimate my income as higher than I think it will be, can I get the Cost Sharing Reductions back at the end of the year if I make less?

Thanks in advance.
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rahaparta

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Re: Since the ACA is a tax? Cost Sharing Redictions on Silver Plans
« Reply #1 on: January 05, 2017, 07:56:29 PM »
Best to underestimate a little bit. Premium subsidy credits may be clawed back if too much over estimate and reported mAGI but cost sharing reductions are not adjusted later if you overstate.

https://www.healthcare.gov/glossary/cost-sharing-reduction/
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Warhead

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Re: Since the ACA is a tax? Cost Sharing Redictions on Silver Plans
« Reply #2 on: January 05, 2017, 07:59:20 PM »
Yes, due to the wonkiness of the law its best to underestimate your income for the year. Subsidies will be clawed back if you make more (to an extent). Cost sharing reductions will not.
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money_bunny

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Re: Since the ACA is a tax? Cost Sharing Redictions on Silver Plans
« Reply #3 on: January 06, 2017, 05:54:49 AM »
Thanks I did try and do my research.
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jim555

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Re: Since the ACA is a tax? Cost Sharing Redictions on Silver Plans
« Reply #4 on: January 06, 2017, 07:16:39 AM »
Silver plan CSRs are not reconcilable at tax time.  Subsidies are.  Two different things.
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