Questions tagged [affordable-care-act]
The affordable-care-act tag has no usage guidance.
30
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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 ...
- 52.3k
2
votes
1
answer
95
views
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 ...
- 23
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% ...
- 271
2
votes
1
answer
62
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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 ...
- 21
2
votes
1
answer
196
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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 ...
- 21
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2
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70
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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 ...
- 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'...
- 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 ...
- 23
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2
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2k
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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 ...
- 222
3
votes
2
answers
146
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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 ...
- 131
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votes
5
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591
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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 ...
- 131
1
vote
2
answers
151
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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 ...
- 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 ...
- 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 ...
- 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 ...
- 50.1k
3
votes
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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 ...
- 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 ...
- 611
3
votes
1
answer
1k
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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 ...
- 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 ...
- 93
3
votes
1
answer
134
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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 ...
- 193
1
vote
2
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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 ...
- 3,699
6
votes
1
answer
196
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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 ...
- 61
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3
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137
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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?
- 41
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79
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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.
...
- 292
3
votes
1
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89
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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 ...
- 763
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 ...
- 2,415
2
votes
1
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344
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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 ...
- 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 ...
- 47k
6
votes
1
answer
393
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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 ...
- 63
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2
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2k
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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 ...
- 3,100