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Posted 1/18/18 / Affordable Health Insurance
Why am I not getting tax credits on the Health Exchange?
There could be several reasons why you are not receiving Federal Tax Credits to help lower the cost of your monthly premiums. Here are some of the most common.
- You didn’t file your taxes or you didn’t file them on time: Not filing taxes is a sure way to lose your tax credits. Why? The Government needs to verify your income to know if the income you are reporting in your account matches what they have on record. Once you file your taxes and the IRS has processed your return, you can do a “redetermination” and once again quality.
- Your income is too high: While this may sound obvious, many people are surprised that when they start earning more, their tax credits do in fact go away.
- You indicated on your account that you are not seeking Tax Credits or Medicaid (Washington Apple Health). Sometimes just checking this box incorrectly can lead you to miss out on Federal Tax Credits
- You listed that you have other health insurance. If you mark on your application that you do have other health insurance, that will disqualify you from receiving Tax Credits.
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