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ACA in Retirement
Old 06-19-2017, 05:24 AM   #1
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ACA in Retirement

How does ACA work if a person has the ability to purchase insurance from a former company (state employee), when retired?

Is it possible? Do they lose subsidies?

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Old 06-19-2017, 06:11 AM   #2
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If you have retiree health benefits

If you have retiree health benefits, you’re considered covered under the health care law. You don’t have to pay the penalty that people without insurance must pay.

If you have retiree coverage and want to buy a Marketplace plan instead, you can. But:

You can’t get premium tax credits and other savings based on your income. This is true only if you’re actually enrolled in retiree coverage. If you’re eligible for but not enrolled in retiree coverage, you may qualify for premium tax credits and lower out-of-pocket costs based on your household size and income.
If you voluntarily drop your retiree coverage, you won’t qualify for a Special Enrollment Period to enroll in a new Marketplace plan. You won’t be able to enroll in health coverage through the Marketplace until the next Open Enrollment period.
Sounds like you would be able to get an ACA plan if you did not apply for retiree insurance and possible subsidy. With all the gyrations going on in health care.. could you go back and get retiree health insurance if you don't take it now? The legislation in congress seems to make the future of health insurance under the ACA questionable.

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Old 06-20-2017, 09:52 AM   #3
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Retirees can always choose ACA instead of retiree coverage if they wish, with full subsidies. I'm in that boat now and can switch back to my former employer any year during open enrollment.
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Old 06-20-2017, 07:54 PM   #4
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I took ACA my 1st year of Retirement, though I had the option to chose from 2 employers. BUT, since I was living off of savings, and very little Taxable Income, I was definitely 'allowed' to chose ACA, as the other choices were greater than 9% of my 'income'. That is what the criteria is supposed to be.All was great. All well planned. BUT THEN i was offered to come back the next year, as a Contract worked, working independently,on a project I liked..i took it..was suppsed to be 3 months, has been 2 , year. BUT, I had already chosen the ACA, so , of course at Tax Time, I had to pay back all subsidy. Then next year I chose my old company's health plan. I will stop working again in a month, but I will always stay with my old company's health plan, as we can't flip back and forth. Once I chose it and then decline it I can NEVER chose it again. Its a good plan, and not that expensive so its ok. But man, that first year of a decent ACA with great subsidy was nice!
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Old 06-20-2017, 08:43 PM   #5
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Given the uncertainty with ACA, any employer insurance would have to be pretty crap and expensive for me not to stay with it.
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