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Time to update health exchange data to avoid tax surprises
San Francisco Chronicle

If you are getting subsidized health insurance through Covered California or another state exchange, it’s time for a midyear tax checkup, the Internal Revenue Service says.

If your income, family size or job status has changed, you should report it to your exchange to avoid a potentially nasty surprise.

The health insurance subsidy, which takes the form of a tax credit, is available to people whose income falls between 100 and 400 percent of the federal poverty level for their family size. The smaller their income, the bigger the credit.

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