When you apply for premium tax credits and other savings in the Marketplace, you’ll need to estimate your income for 2015.
You can start by adding up the following items for:
- You and your spouse, if you’re married and will file a joint tax return
- Any dependents who make enough money to be required to file a tax return
Which income sources to include
For each of the following sources, estimate what your income will be in 2015—the year for which you’re applying for insurance. If you’re not sure what your income will be, make your best estimate.
- Net income from any self-employment or business (generally the amount of money you take in from your business minus your business expenses)
- Unemployment compensation
- Social Security payments, including disability payments — but not Supplemental Security Income (SSI)
Other items to include when estimating your 2015 income are: retirement income, investment income, pension income, rental income, and other taxable income such as prizes, awards, and gambling winnings.
Don’t include the following kinds of income:
- Child support
- Supplemental Security Income (SSI)
- Veterans’ disability payments
- Workers’ compensation
- Proceeds from loans (like student loans, home equity loans, or bank loans)
We can Help
At First Preferred Health Insurance we help you get the subsidy that you qualify for. Call our office today to speak with your own personal Licensed ACA Expert Agent. Open Enrollment is only for a short period of time so call us now toll free at 888-251-5535 to set up an appointment. Please note*** This will help ensure that your applications and subsidies will be secured by submitting them in time.
For more information or to get a quote please click on the link that best suits your insurance goals. We certainly look forward to helping you with all of your Health Insurance needs!