LAS VEGAS - nvtip -- This Fall, when you figure your Household Income for an Obamacare plan government subsidy, please note: Everyone in the household's income is factored into the health insurance premium.  So if you have a 21 year old adult child that is going to be on their parents plan, you must include their income as part of the "Household income" whether they live at home or not to figure out the Advanced Premium Tax Credit.

Read below: "All other individuals who were taken into account in determining the taxpayers family size."  (See below)  Remember this, it is important, because at the end of the year, when you settle up with the IRS while doing your taxes, your "Advanced Premium Tax Credits" you received cannot be greater than your allowances, or you will owe the IRS money back.

The term "household income" means, with respect to any taxpayer, an amount equal to the sum of

More on nvtip.com

• Comprehensive Music Industry Guide For Music Artists by LHMPR Radio and Keez MC
• Why Have PPO Plans Vanished from Nevada's Individual Market?
• Health Insurance Benefits for American Indians
• Your Body Isn't Broken—It's Out of Balance: The New Book Revealing the Blueprint to Restore Hormone Balance, Sleep, Gut & Metabolic Health
• RISE FESTIVAL UNVEILS OFFICIAL SCHEDULE FOR 10TH ANNIVERSARY CELEBRATION IN THE MOJAVE DESERT

♦ the modified adjusted gross income of the taxpayer, plus

♦ the aggregate modified adjusted gross incomes of all other individuals who

♦ were taken into account in determining the taxpayer's family size under paragraph (1), and

♦ were required to file a return of tax imposed by section 1 for the taxable year

Read the full article: https://www.nevadainsuranceenrollment.com/household-income-when-applying-for-health-insurance-subsidy/

Learn more: https://www.nevadainsuranceenrollment.com/individual-family-health-insurance/

Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554
Website: NevadaInsuranceEnrollment.com