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ACA Mid-Year Sign Up
Old 02-13-2016, 01:56 PM   #1
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ACA Mid-Year Sign Up

Excuse me, if this has been posted before, but I just completed my mid-year sign up for ACA. I plan on giving my 30 notice on March 1 and my last day being March 31. My ACA plan will start April 1st.

I picked out my plan, but the premium was the full amount.

I have two questions:

1. If you have been through this, when did the subsidy get applied?

2. Has anyone paid the full premium amount for the year and get the subsidy when income taxes are completed? Proof of income is going to be a hassle with me working part of the year. Additionally, I'll have rental income.


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Old 02-13-2016, 02:30 PM   #2
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If you don't receive an advanced PTC subsidy each month, you will receive the full and actual value of any PTC due when you file your taxes next spring. The PTC is calculated on From 8962 - Premium Tax Credit.

For many of us here, it is likely less hassle to purchase through the marketplace but not substantiate income etc so that no PTC is given, and then it will all be available at tax time. Those living closer to the edge on the other hand will likely benefit of having the credit up front each month.

Note I have not actually purchased from the Marketplace, but I have prepared many a tax return for folks who have.


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Old 02-13-2016, 03:33 PM   #3
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That's great to hear and confirm. Thanks!
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Old 02-13-2016, 04:23 PM   #4
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For 2014 I did not qualify for the subsidy...

For 2015 I will get it.... I did not want to get the monthly subsidy and chose to pay the full amount and get a refund... have done a good part of my tax return and it shows up as a refund...
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Old 02-13-2016, 04:43 PM   #5
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We applied for ACA in April of 2015. Our income was estimated by us and was applied on the first payment. We were, at the time, convinced on the insurance co we wanted but not sure on the specific policy. We had the insurer's rep come to the house to discuss policies and sign us up. She did all the computer sign-up on the Marketplace website while sitting at out dining room table.

In our 1st pass on our taxes, it looks like we overestimated our income slightly and will get another ~450 credit on our taxes when we file.

Funny part is, this year, we have to show some form of evidence for our income estimate in order to get the premium tax credit applied to our premium.
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Old 02-14-2016, 06:28 PM   #6
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The subsidy should be applied when you buy the policy on the Exchange. You might not qualify if income is > 400% FPL for the year.

Another option is if you have a drop income mid year see if you qualify for Medicaid, since this is based on monthly income. Contingent on your state expanding Medicaid, of course.
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Old 02-15-2016, 07:51 AM   #7
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My income will be between 133% and 400% of FPL. But, the Exchange did not apply.

Also, my state did not expand Medicaid.

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