Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
questions about aca
Old 07-03-2013, 06:46 AM   #1
Full time employment: Posting here.
 
Join Date: Jan 2010
Location: dubuque
Posts: 618
questions about aca

I was wondering how people are going to pay for obamacare. it says you get a tax credit. does that mean you pay the full premium for the year and then get a refund when taxes are due in april? anyone know how this works? also, wellmark blue cross in iowa opted out of participation until 2015. can they do that and still come in later? what would be the purpose of their declining to participate for a year? maybe these questions are already in another area if so let me know. thanks

frank
__________________

__________________
frank is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-03-2013, 07:49 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Jul 2012
Location: Mississippi
Posts: 1,878
Tax credits from their website

https://www.healthcare.gov/glossary/premium-tax-credit
__________________

__________________
rbmrtn is offline   Reply With Quote
Old 07-03-2013, 02:35 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,411
and as I understand it the advance credit payments go directly to your health insurer and reduce the premium you need to pay.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 07-03-2013, 04:29 PM   #4
Thinks s/he gets paid by the post
Big_Hitter's Avatar
 
Join Date: May 2013
Location: In the fairway
Posts: 4,094
it's an advance tax credit with a true up (sort of) in the following year
__________________
Swing hard, look up
Big_Hitter is offline   Reply With Quote
Old 07-04-2013, 06:26 AM   #5
Full time employment: Posting here.
 
Join Date: Jan 2010
Location: dubuque
Posts: 618
thanks for the attachment and other info.

frank
__________________
frank is online now   Reply With Quote
Old 07-04-2013, 09:24 AM   #6
Full time employment: Posting here.
 
Join Date: Jun 2013
Posts: 620
I will be in a similar situation when I pull the plug later this year. I plan to take COBRA and hang onto it for a while until the ACA dust settles. Even if it turns out to be cheaper for me to go with an exchange on January 1 2014, I think it's worth spending a little more for a while to make sure the exchanges will work as promised before making the leap.
__________________

__________________
Which Roger is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 07:31 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.