During the year you apply for health coverage, you should consider two key things: income and household members. This means that you need to declare which tax dependents must be included in your income.

This may be a complex process to understand. That is why Dulcinea Insurance has decided to dedicate a space to the subject. At the end of the reading, you can call us at 786-910-9487. One of our specialists will be waiting for your call.

Who should you include on your income statement?

When applying to the Health Insurance Market, you should be clear about who should be included in your household income. There is a very simple formula for not failing.

The household is equal to:

  • Tax filer
  • Spouse, if any.
  • Fiscal dependents

Which household members should be included in such a statement?

If you are legally married, know that you cannot leave out your spouse. Also, do not avoid claiming any of your tax dependents and your spouse, even if they do not need health coverage.

Another basic rule is not to exclude people you plan to claim as your tax dependents during the year you apply for coverage.

If you are not married and do not have tax dependents, the process is simpler. You only have to count yourself. The same is true if you have not been claimed as a dependent of someone else.

Why should those household members who do not need insurance be included on the return?

All household members count in establishing market savings. That is why the total household income is taken, even if there are family members who do not need health coverage.

For example, some members of the household may be on a state program such as Medicaid, CHIP or Medicare. It may also be that a member has already purchased a health plan or is in a plan provided by their employer at work.

There are several options, but the result is the same: you must include all of them and their income on your application.

Income and Household Members: Which Tax Dependents Should You Include on Your Application?

For the year in which you apply for health coverage, the income of any dependents who are required to file a federal income tax return must also be included.

Please note that some of your tax dependents may not be required to file a tax return. If your tax dependent is still filing for a refund, you do not have to include their income on the Marketplace application.

Can you and your spouse file a joint tax return for market savings?

Yes, you can. In fact, when you file a federal tax return jointly with your spouse you can get many benefits. If you do, for the year you want coverage you are eligible for tax credits for premiums and other savings.

Remember that you must first qualify based on your income and other factors.

But there are some exceptions. Take a look!

  • You’re married but file your taxes separately. During the year you want health coverage you are not eligible for a tax credit or other savings.
  • You are married and plan to file as the head of the household. For the year you want health coverage: you can basically say you are “single” on your Insurance Market application.

What if I am a victim of domestic violence or spousal abuse?

In that case, you are not required to file a federal tax return jointly with your spouse. The best thing is that you are not affected, because it is still possible to qualify for a tax credit on your premiums and other savings.

When you are not living with your spouse due to domestic violence or abandonment, you may want to enroll separately in your own health plan.

All you have to do is state that you are “single” on your Market application. As a result, there is a high likelihood that you and your dependents will be eligible for the tax credits for premiums and other savings, depending on your income.

If you need further advice on this matter, please do not hesitate to call us at 786-910-9487. Dulcinea Insurance will be happy to assist you with your case.

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