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Questions tagged [affordable-care-act]

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Does my spouse's income count the income calculation for the Affordable Care Act? (See details)

Scenario: I plan to retire before I am eligible for Medicare My wife is eligible for and plans to sign up for Medicare when I retire My wife has income from social security We file our taxes as ...
JohnFx's user avatar
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2 votes
1 answer
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IRA rollover to meet minimum income for ACA subsidy

Can I use a rollover from a traditional to Roth IRA to meet the minimum income necessary to qualify for ACA subsidies in 2022? I do not qualify for Medicaid, and am buying insurance for a family of ...
Jeff Begin's user avatar
1 vote
1 answer
34 views

How to find information for premium increase trends?

Each year, I find that the premiums on the Affordable Care Act (ACA) Marketplace increase on my chosen plans by a large amount. Since I qualify for maximum assistance when I choose a plan, when a 1% ...
LeanMan's user avatar
  • 271
2 votes
1 answer
62 views

Roth Conversion over ACA Cliff

Since the ACA Cliff is eliminated for 2021 (& 2022), it appears to be a good time to do an extra large Roth Conversion. Assuming the individual is already close to the ACA cliff (and not on ...
RobertF's user avatar
  • 21
2 votes
1 answer
196 views

Is my calculation of gross income correct?

I have made $7200 working for a temp service this year, then I was hired in straight into the company and hope to gross about $3700 for the previous last two weeks and the remainder of the year. I ...
Grant314's user avatar
0 votes
2 answers
70 views

Mass Connector Health Plans and new employment

I'm currently self-employed and I have insurance through Massachusetts Health Connector, which is what the Affordable Care Act is called in Massachusetts. I have a good income level so I don't ...
new name's user avatar
  • 7,457
4 votes
1 answer
61 views

ACA health insurance: What will happen if my income ends up being way higher than I have on record?

I have a state subsidized health plan through Covered CA (California, US). My income fluctuates quite a bit from year to year, but I always do my best to guess what it will average out to be, and if I'...
Brimby's user avatar
  • 267
2 votes
1 answer
60 views

Owed taxes for discounted health care after pension cash out

Last year in 2019 my Mom signed up for "Obamacare". At the time she signed up, she was under 400% of the poverty limit, which for 1 person was 12,490 x 4 = 49960. Being under this limit ...
Gabe Johnson's user avatar
5 votes
2 answers
2k views

Does my new insurance plan have to pay for my pre-scheduled surgery (it normally covers this surgery)?

I am 25 and on my parent's plan until I turn 26 on December 25, 2020. It has pre-authorized me for a surgery which is currently scheduled for November 17. However I want to reschedule it to after I ...
Derek Fulton's user avatar
3 votes
2 answers
146 views

Does insurance gap affect pre-existing condition coverage?

I might be unemployed for a few weeks and will lose health insurance during then. I'm trying to figure out what the implications are, in particular, whether I'd have troubles getting pre-existing ...
qweruiop's user avatar
  • 131
3 votes
5 answers
591 views

Does COBRA make sense anymore with the ACA?

I recently changed jobs. Job 1 ended in March, and Job 2 started immediately after the end of Job 1. The health insurance provided by Job 1 continued to the end of March. The health insurance coverage ...
Jeff Pratt's user avatar
1 vote
2 answers
151 views

Deducting self-employed ACA health insurance premiums paid for next year

I'm self-employed and paid my January 2019 ACA health insurance premium at the end of 2018. I assume I can deduct this on my 2018 taxes since I use the cash accounting basis. But what if my 2019 ...
Craig W's user avatar
  • 14.9k
3 votes
1 answer
76 views

Do I need to Re-file my taxes (1040x) once I receive healthcare marketplace exemption certificate?

This pertains to tax year 2017. My girlfriend filed her taxes and filled out form 8965 (healthcare coverage exemptions form). She checked the box indicating that she had a "pending" hardship exemption ...
HoKo's user avatar
  • 31
3 votes
1 answer
135 views

ACA and HSA question - seems HSA policies are a lot more expensive in premium and out of pocket

I am looking at ACA coverages in CT. The HSA policies cost a couple hundred more per year (family of 4) and I pay 100% of all costs not excluded by the ACA until the full deductible is reached, then ...
Brian B's user avatar
  • 193
2 votes
1 answer
92 views

How do ACA premium tax credits work?

As a "What if I lost my job?" budgeting exercise, I went to https://www.healthcare.gov/apply-and-enroll/health-insurance-plans-estimator-overview/ and punched in the numbers for me and my children ...
RonJohn's user avatar
  • 50.1k
3 votes
0 answers
36 views

If I am eligible for employer sponsored insurance which doesn't offer coverage in my state, can I still get an APTC on the exchange?

Normally if an employer offers "affordable" coverage that meets minimum standards, employees eligible to participate no longer qualify for an Advance Premium Tax Credit, even if they want to turn down ...
lzam's user avatar
  • 611
10 votes
1 answer
542 views

Can I use an IRA to avoid the ACA subsidy cliff?

We are close to the 400% of the federal poverty level border for ACA and CHIP (NY Child Health Plus). Based on my understanding, if we make just $1 over the limit, we will end up owing a significant ...
lzam's user avatar
  • 611
3 votes
1 answer
1k views

Under the Affordable Care Act, do I get penalized if my dependents don't have insurance for the time they are not in the US?

I got health insurance for my wife and son. They are traveling to India for 3 months. If I cancel their insurance coverage, and apply for insurance once they came back in October, will I get a ...
Nilesh's user avatar
  • 143
7 votes
1 answer
507 views

Do I have to pay a Health Care Tax Penalty for my F-1 spouse?

I'm an H-1B holder married to an F-1 student for the middle of 2016. I have insurance coverage through my employer. My F-1 wife doesn't have health insurance. She only has student insurance covered ...
sng's user avatar
  • 93
3 votes
1 answer
134 views

Affordable Care Act subsidy effect on taxes after Income Gains

Suppose an individual signed up with an insurance plan from the ACA between January to August of 2016 with an estimated income level of $23K annually that qualified this person for a subsidy. In ...
gtnbz2nyt's user avatar
  • 193
1 vote
2 answers
508 views

How does the Affordable Care Act (ACA, aka Obamacare) work?

For people purchasing insurance over the exchanges are the savings factored into the cost that they'd be paying already or are they tax credits? ie. if you have a $1,000 USD plan and was going to ...
neubert's user avatar
  • 3,699
6 votes
1 answer
196 views

ACA Premium Tax Credit - Claiming for prior year

At the start of the year I did not think I would qualify for the subsidy, but as things have turned out my income was less than the maximum. The health plan I used was available both through the ...
user51204's user avatar
2 votes
3 answers
137 views

Affordable Care Act claim limits by plan tier [closed]

How often can an individual covered under each of the Bronze, Silver, Gold, and Platinum tier plans claim coverage benefits, and what are the coverage limits?
user10415's user avatar
0 votes
1 answer
79 views

Do Affordable Care Act business requirements apply to "control groups?"

The Affordable Care Act (a/k/a Obamacare) imposes certain requirements, restrictions and obligations on business entities. For example, businesses that employ over 50 full time workers must ... etc. ...
Mowzer's user avatar
  • 292
3 votes
1 answer
89 views

Can I apply for a subsidized health insurance plan when I lose my job?

Up till now I've been paying for my own insurance as my employer did not offer it. I was paying $500 / Month which was not ideal but manageable while I was working ( my employer did not cover me ). I ...
user379468's user avatar
2 votes
2 answers
124 views

Is It Possible For All Insurers To Leave the State?

UnitedHealth is leaving a few Georgia, Arkansas and Michigan - hitting home in our case, and what happens if its former competitors in those states do? Does ACA have an alternative route for people's ...
user541852587's user avatar
2 votes
1 answer
344 views

Confusion over repayment of Advance Premium Tax Credit

In the beginning of 2015 I received financial assistance with my health insurance premiums in the form of the Advance Premium Tax Credit. By midyear my income had increased substantially and I no ...
user45623's user avatar
  • 529
1 vote
1 answer
206 views

ACA subsidy while unemployed

Suppose you currently have health insurance from your state's marketplace, and you have enough income that you are not eligible for any subsidy. Now suppose you lose your job and begin collecting ...
TTT's user avatar
  • 47k
6 votes
1 answer
393 views

No health insurance wants me, what to do?

Ive tried to apply to medicaid twice this year(2015) and both times, they have denied me. But when I try to find health insurance on the Obama Marketplace site, the private insurances block me out ...
Chris Walsh's user avatar
0 votes
2 answers
2k views

Can I deduct the cost of LASIK eye surgery from my taxes?

I was planning on putting some money aside into an FSA account to cover LASIK. However, I found out that under current rules, there's a maximum of $2,550 that can be put aside for the year, which does ...
AxiomaticNexus's user avatar