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I retired before 65 yo (medicare eligibility). Needed an affordable monthly insurance premium as I couldn't afford the state med insurance with student loans and a mortgage payment. I applied on HealthCare.gov and had a great agent for the Bright Health Insurance which helped me qualify for an extremely affordable monthly premium for my circumstances. What they neglected to tell me was that I would have to be paying back to the irs the tax credit I received and qualified for the full year I used this insurance at the time I would have to file my taxes. The total amount I owed back to the irs was over $5,000! I am a retired teacher and this is going to cause a financial burden for me. This is criminal! Wanted to warn anyone else thinking of using this insurance coverage.
Tip for consumers:
If you qualify for an affordable monthly insurance premium, make sure you don't have to pay the savings back to the irs. The amount owed back to the IRS when you file taxes could be extremely expensive. If you choose to pay back in an installment plan, they will charge you interest.
Teresa G.'s review of healthcare.gov earned 12 Very Helpful votes
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