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By Ryan Kennelly

August 26, 2016

Topics:

  • Individual & Family Health Insurance
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I Received a Bigger Subsidy than I Should Have because my Income Was Higher. Do I Have To Pay a Penalty?

August 26, 2016

  • Individual & Family Health Insurance

You do not need to pay a penalty, assuming you were covered by a health plan that meets the Minimum Essential Coverage Requirements.

However, if the amount of the allowed premium tax credit is less than the applied APTC, you must increase your tax liability by the amount of the excess APTC you received. However, the repayment amount may be capped based on their actual annual household income.

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