Quote:
Originally Posted by biker1
I don't believe there is any penalty for underestimating your income. You will, of course, have to repay the portion of the subsidy you aren't entitled to but they won't add a penalty.
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Correct. Or, you can choose to apply a percentage of the subsidy to the monthly premiums. The rest is "banked". That way, if you exceed your estimated income, you will not end up writing a check at tax time.
The big concern is to make sure you don't exceed the upper limit. The subsidy will go to zero in one big jump and you will have a big tax bill.