[Patrick]

If you had to, could you get up to $100k? I.e. do some Roth conversions or something?

Hopefully someone else can confirm, but when I first researched ACA I saw posts where if you overestimate your income then they refund your overpayment on your tax refund, but also if you fall into the Medicaid territory then you lose all the subsidy because you should have been on Medicaid, and that’s your problem.

I hope I’m wrong but it made me make sure it wouldn’t happen.

[Andrea]

I’m surprised by this, as Illinois Allkids program is one of the most robust children’s Medicaid programs in the country with extensive coverage.

Is this because their current specialists will not take Medicaid?

[Lindsay]

Find a licensed agent – their advice is free (my spouse is an agent in CA).

If you can’t find one you trust try The Retirement Nerds on YouTube – not an endorsement but he seems like a really genuine guy and clearly knows his stuff.

[Shawn]

My understanding is that there isn’t a penalty for guessing wrong. It will adjust on your tax return.

I’ve only been asked once to justify my income, because I was off by a lot.

[Author]

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