Will there be a tax penalty if a consumer applied for premium assistance and ended up with more income than expected? Just like if you underpay tax you are to pay a penalty and tax.

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Home »Frequently Asked Questions »Will there be a tax penalty if a consumer applied for premium assistance and ended up with more income than expected? Just like if you underpay tax you are to pay a penalty and tax.Covered CA

Will there be a tax penalty if a consumer applied for premium assistance and ended up with more income than expected? Just like if you underpay tax you are to pay a penalty and tax.

There will be reconciliation at the end of the year and the consumer may be required to pay back advance premium assistance. Hence, it is important to report any income changes to Covered California.

There may be a more recent answer to this question. Contact Claremont for an update.

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