Subsidy and Medicaid

[SamIam]

I have a business owner in Illinois who was on pace to make about 23K after write-offs and he claimes his 19 your old daughter. He lost a project and will now show 18K for the year will he have to pay back all that subsidy?

 

[Yagents]

No, the IRS released something that forgives the claw back if you end up falling in medicaid level. Once is forgiveness, twice is fraud IMO.
google it.

 

[HealthGuy]

Bill are you saying if this scenario happens twice in two separate years they consider it fraud? I can't tell if you are being sarcastic lol

 

[Yagents]

I dont know for sure, but that can be considered fraud if purposefully doing it. I dont play. I avoid.

 

[SamIam]

No, the IRS released something that forgives the claw back if you end up falling in medicaid level. Once is forgiveness, twice is fraud IMO.
google it.

By any chance do you know where you saw this I'm trying help this guy out he is a really nice guy.

 

[Yagents]

By any chance do you know where you saw this I'm trying help this guy out he is a really nice guy.

I pay for a membership to google, a quick check found these:

http://www.healthreformbeyondthebas...ween-Medicaid-and-Premium-Tax-Credits-FAQ.pdf
Questions and Answers on the Premium Tax Credit | Internal Revenue Service
If my income is less than expected this year, I might be eligible for Medicaid. What can I do to cover my bases?
What happens if my income changes and my premium subsidy is too big? Will I have to repay it?