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Old 05-05-2013, 01:51 PM   #521
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I appreciate your pointing the thread back to how to apply for and utilize the ACA, rather than commentary on whether or not is going to help or hinder whom.
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Old 05-05-2013, 02:59 PM   #522
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After reading the first post of this tread, I thought here was the place to ask my very first question. Was I in error?
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Old 05-05-2013, 03:26 PM   #523
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After reading the first post of this tread, I thought here was the place to ask my very first question. Was I in error?
I could not reproduce the numbers you gave but it sounds like you have run into the "cliff" in regards to the subsidies. As others mentioned if you reduce your MAGI to around $62K then you get your premiums down to around $490/month with subsidies. The cliff refers to an abrupt cutoff in subsidies above certain MAGI instead of it being smoothed out.

As far as esurance, that is the best quote, In your age bracket it is unlikely you would even be able to purchase insurance, let alone at that price.
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Old 05-05-2013, 03:48 PM   #524
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After reading the first post of this tread, I thought here was the place to ask my very first question. Was I in error?
No, your question was legitimate, and actually a true reflection of the original purpose of thread.
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Old 05-05-2013, 04:47 PM   #525
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Thanks for your reply. My $5400 premium is from unitedhealthone 5000 ded. 70/30 plan, $447.83 mo. in Ohio. I noticed an abrupt cut off in the subsidy calculation at around the $62K point. I may be able to work something there. I was just trying to understand the premium cost on the Obamacare calculator. Planning my retirement for the past 5 years, I always throught 10K a year should cover us in healthcare, without any major expenses. Thanks for the clarification that I am posting in the correct thread.
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$92K Gets You a Subsidy? Is that right?
Old 05-05-2013, 04:53 PM   #526
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$92K Gets You a Subsidy? Is that right?

I did the simple math and it looks like if you are making $92,000/year and have a spouse and a couple of kids, you will have your Uncle Sam paying for a chunk of your ACA premium.

$92,000 / 23550= 390% ~ This family of 4 with an income of $92,000 will qualify for ACA government subsidy.



Quote:
<H2>I read that starting in 2014 tax credits will be available to help make health insurance affordable families with income between 100 and 400 percent of the poverty line. What does this mean?
Quote:

First of all, the credits will only apply to only to those who are not eligible for other affordable coverage.
The poverty line joins the ranks of poverty level as yet another casual reference to the federal poverty guidelines. To calculate your percentage of poverty, divide your income by the poverty guideline for your household size. Carry the decimal two places in your result; add a percentage sign, and you have your answer. Again, you can click here for the 2013 poverty guidelines.

Income poverty guideline for household size = percentage of poverty guideline
http://www.healthedeals.com/articles/your-guide-to-the-federal-poverty-level
</H2>
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Old 05-05-2013, 05:19 PM   #527
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Played golf with a friend today. 42 years old, well educated. He informed me today that a family of four making 80k a year will have to pay taxes on the value of their free health care under Obamacare. Sounds like Uncle Sam has some educatin to do.
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Old 05-05-2013, 05:20 PM   #528
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Originally Posted by mickeyd View Post
I did the simple math and it looks like if you are making $92,000/year and have a spouse and a couple of kids, you will have your Uncle Sam paying for a chunk of your ACA premium.

$92,000 / 23550= 390% ~ This family of 4 with an income of $92,000 will qualify for ACA government subsidy.




http://www.healthedeals.com/articles/your-guide-to-the-federal-poverty-level
</H2>

did any of you ever think we would be using 92,000 per year and poverty level in same sentence.
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Old 05-05-2013, 05:22 PM   #529
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Played golf with a friend today. 42 years old, well educated. He informed me today that a family of four making 80k a year will have to pay taxes on the value of their free health care under Obamacare. Sounds like Uncle Sam has some educatin to do.

i think you misunderstood him. i do not believe that what he was talking about.what he is saying is medical insurance from employer would be taxable at certain levels. i don't know about the numbers but i think that is different than subsidy if you have to buy insurance from the exchange
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Old 05-05-2013, 05:24 PM   #530
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Maybe that's what Sen. Backus and Sen. Reid meant by "train wreck."
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Old 05-05-2013, 07:49 PM   #531
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Thanks for an interesting discussion

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