Figuring income for the Affordable Care Act [View all]

[Tumbulu]

I am a self employed farmer/plant breeder. My income varies greatly. Plus, my tax returns allow all sorts of amazing deductions that support the growth of small businesses and farms.

So, my total income already has the cost of medical insurance (that is about 1/5 of my income) removed from it. I get to take the depreciation of my fences and farm equipment off my income, etc.

Last year (2012) was a really bad year. If I use those numbers I am eligible for medical. But this year (2013) is way better, I would qualify for the subsidies.

I have called Covered California and the person I spoke with told me to wait until after doing my 2013 taxes to apply (I already pay this huge percentage of my income on insurance, so I am covered). On DU, I was told to estimate....what is the answer? What if I estimate, get a subsidy and then find out I am wrong? Do I get fined for taking a subsidy if I should have been on medical? And exactly how to I describe my income- before or after deducting the medical insurance costs?

I am sorry if there is already a thread about this, I looked and did not see one.

Thanks in advance for any information.