Estimated income too high on ACA application

I am employed as a teacher and my wife is self-employed. We have 2 young children and live in Illinois.

Is there a penalty for ending up making less than expected and my kids then qualifying for Medicaid but being enrolled on an ACA plan?

My school does not contribute towards any health plan ($~700/mo single, ~$1,500/mo family). We have been going through ACA since I started teaching 2 years ago. At the end of last year, my wife quit her PRN job to focus on our business FT as she could make the same doing that and have more flexibility. When I filled out the app, I estimated her income based on previous years sales numbers plus a slight increase as she could do more for the business. However, we will now be about $10k short of what we estimated as holiday sales aren’t what they were last year. We were right on the cusp of the kids qualifying for All-Kids (basically Illinois Medicaid for children only) but based on the healthcare.gov website, it suggested to enroll in an ACA plan if you were borderline.

submitted by /u/lumberc
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