You May Have To Pay Back The IRS!
The IRS appeared before the House Ways and Means
this week and stated people that miscalculated their incomes, or if the website
(Nevada Health Link) miscalculated their “APTC” (advanced premium tax credits),
whether intentional or not…would be responsible. Folks that enrolled into a health insurance plan
and have a government subsidy, IF your subsidies have been miscalculated, you
will be required to pay this money back if your subsidies are calculated higher
than you were entitled.
We gently warn our customers to be honest and
careful when doing your health insurance plans through Nevada Health
Link. If you intentionally or unintentionally miscalculate your income,
there will be a settlement with the IRS when you do your taxes. This
notice is not meant to scare you, but to educate and inform you.
This just solidifies our long held view that you
need to be very careful and accurate when you apply for a subsidy from the
Government to help you pay your premiums and that you accurately state your
“MAGI” (modified adjusted gross income). If you don’t know your MAGI, ask
your accountant. They are the best source you have to get this
right. Then call us for assistance with your health plan.
We also need to remind our clients that if you
have a “Life Event”, meaning income adjustments of any kind, like adding or
subtracting dependents to or from your taxes, you MUST let Nevada Health Link
know. This will help you avoid discrepancies with the IRS when you do
your taxes. The subsidies are directly tied to your tax returns, so if
you have life events, you must make certain that these changes (income
increases, income decreases, adding babies, children coming off your tax
return, etc.,) gets reported.
Why is it important to have a Health Insurance
agent? They can help you with this…and so much more. The costs are the same (the insurance company
pays for the agent) so why not have an educated, experienced and caring professional at
your service...for no additional charge!
Thank you for considering Nevada Insurance Enrollment Marketplace for your health insurance needs.
Sincerely,
Shelly Rogers
Nevada Insurance Enrollment Marketplace
Licensed Agent #560016
Phone: (702) 898-0554
Toll Free: 1 (888) 600-0554
E-mail: Shelly@NevadaInsuranceEnrollment.com
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Authorized Agent for: Nevada Health Link, Anthem Blue Cross / Blue Shield, United Healthcare, Sierra Health and Life, Health Plan of Nevada, Aetna, Assurant Health, Coventry, Humana, Nevada Health CO-OP, Prominence, Cigna, Manhattan Life, Mutual of Omaha
