Health Insurance Guide For The Self-Employed

If you got one of those subsidies we talked about earlier, remember, it is an estimate of a tax credit. That means if you suddenly win the lottery tomorrow, you are no longer eligible for that tax credit because your tax bracket just skyrocketed. You would have to pay back any of those funds when your taxes come due. If you lost your job and your income suddenly dropped so that your estimate was too high, the federal government may actually give you a refund if you should have gotten a higher subsidy. Just remember, it gets reconciled at tax time both ways and be sure to update your application with any changes!