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Household income

Household income

When enrolling in health insurance, you will be required to estimate your annual household income for the plan year (not your income from the previous year). This includes income from your spouse and anyone claimed as a tax dependent on your federal tax returns, even if they do not require health coverage. 

If your income is unpredictable, you will need to update it throughout the year to avoid having to repay tax credits or to take advantage of any additional tax credits you may be due if you overestimated your earnings. 

Related Terms:

Dependents

Household income

Premium tax credits

 

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