perinova
Full time employment: Posting here.
- Joined
- Apr 18, 2006
- Messages
- 531
pay-off the mortgage or refi: reduce current income to qualify for ACA
... in order to be under the 400% FPL and qualify for the ACA subsidy.
Our son will be living home soon and I just recalculated what need to be done to qualify for the ACA subsidy from 3 people to 2 people household...
It looks like the only way I can make this happen is to pay-off a significant portion of the mortgage and refinance to go from a mid 80k income to a low 60k income.
The state of CA, next year, will start erasing the cliff but the subsidies still fade out very fast and someone may pay 18% of income with the Silver plan.
Nice write up on the subject and the Calif. document:
https://board.coveredca.com/meetings/2019/06-26/Program_Design_Document_Final.pdf
https://acasignups.net/19/07/02/upd...much-will-their-supplemental-subsidies-reduce
... in order to be under the 400% FPL and qualify for the ACA subsidy.
Our son will be living home soon and I just recalculated what need to be done to qualify for the ACA subsidy from 3 people to 2 people household...
It looks like the only way I can make this happen is to pay-off a significant portion of the mortgage and refinance to go from a mid 80k income to a low 60k income.
The state of CA, next year, will start erasing the cliff but the subsidies still fade out very fast and someone may pay 18% of income with the Silver plan.
Nice write up on the subject and the Calif. document:
https://board.coveredca.com/meetings/2019/06-26/Program_Design_Document_Final.pdf
https://acasignups.net/19/07/02/upd...much-will-their-supplemental-subsidies-reduce
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