Greetings! My employer provides health insurance for me but not my wife and 2 kids. They have a plan through Access Health. Our 2026 reported income was just above the threshold for the kids to qualify for Husky B, Band 2. Instead, we get nearly the maximum advance tax credit possible for a family of 4 on the Anthem silver plan. This has also been the case for the past few years.
We just got the renewal notice in the mail and the state must have increased the income threshold, because it says that with our current reported income, the kids will be eligible for Husky B, Band 2 starting in 2027. My first question is: how is the coverage? Do all Yale New Haven Health affiliated offices participate? How does it compare to a silver plan with copays?
As far as I know currently, our 2027 income will be the same as what we reported for 2026. Sometimes I get a mid-year raise. Sometimes I don't. Some years I get a Christmas bonus, some years I don't. My wife is a stay-at-home-mom but has the potential to work here and there if the opportunity presents. To the best of my knowledge, my income for next year will be my current base salary only. In past years, if we earned more than what I reported to Access Health during enrollment, it wasn't a problem since it was all reconciled at tax time and I would just pay back whatever excess tax credit I received in advance (usually only a few hundred dollars).
My second question is this: if we take Husky B, Band 2 for the kids, my wife would be the only one still on the Anthem plan, but the advanced tax credit basically disappears. What happens if our final income of 2027 is higher than what we estimated for enrollment and it ends up exceeding the threshold for Husky B, Band 2? How would the payback be calculated? If the correct income was given from the start, we wouldn't have been eligible and we would have just continued with Anthem and the large monthly tax credit that we have now.
I have asked this question to my tax preparer, an Access Health phone representative, and an Access Health broker/ advocate and they have all said that they have yet to encounter such a scenario. I obviously do not want a surprise bill at the end of the year.
Thank you!