Questions about applying for health insurance under an S-Corp in Colorado/Proof of Income

Was hoping to get some advice here. We are a couple that run an S-Corp and have lost a lot of business since Covid. Hopefully things will pick back up, but this isn't going to happen at least for another year or two, as far as I can foresee. So far we are paying for all of our health needs out of pocket.

This year we would like to apply for health insurance soon. We don't qualify for Medicaid but I do believe we qualify for "advanced premium tax credits" given our earnings. Questions:

* 1. What is advanced premium tax credits? Does this mean you pay for everything and then you deduct the costs from your taxes? Do you actually receive money back?

* 2. How do we, as an S-corp to provide proof of our income? Our earnings for 2023 were low, and our current earnings now this far into 2024 are even lower.

* 3. I'm assuming we wait until November 1st when open enrollment starts to turn in an application? (We don't qualify for the "special" cases to get in outside of the open enrollment period, it seems (e.g. pregnancy).

Thank you for any info you can offer.

submitted by /u/OverUnite8
[comments]