I received an eligibility letter stating my household income is 30k for a 2 person household. This might have been recalled from last year, but the current income is 20k. I am having a difficult time understanding the chart,
but would it be better to update the info or leave as is?
***The law and all the rules mandate that you notify Covered CA within 30 days of changes in income.
Learn More==> Report Income Change
I heard reporting too low of an income may have adverse affects, but using the chart I can’t determine which is best.
It’s not a question of what is best. It’s a question of following the law and not letting either one of us going to jail for tax fraud. If your expected MAGI income (Line 37 of 1040*) for 2016 is $20k for two people, then you qualify for Medi-Cal, not Covered CA subsidies.
Hope you can help.
***The first thing to do is get a complementary quote and subsidy calculation from our quote engine. We will explain more shortly.