Join Early Retirement Today
Reply
 
Thread Tools Display Modes
when to sign up for ACA starting February 2019?
Old 11-03-2018, 03:12 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Aug 2010
Posts: 1,089
when to sign up for ACA starting February 2019?

I plan to have my last working date on 1/4/2019. This date serves 2 purposes: to be eligible for 2018 annual bonus I have to be employed through the last day of 2018, and to have group insurance coverage for the month of January 2019. We then plan to sign up for ACA starting February 2019.

Covered California enrollment period is from Oct. 15, 2018, to Jan. 15, 2019. When should I sign up for ACA to begin the coverage starting February 2019? Should I wait until 1/1/2019?
fh2000 is offline   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 11-03-2018, 03:20 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,007
Before Jan 15 likely, so I recommend signing up immediately in Jan for February 2019 coverage. Double check.
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 11-03-2018, 07:47 PM   #3
Recycles dryer sheets
 
Join Date: Nov 2017
Location: Green Bay
Posts: 226
Because your employer provided healthcare is ending, you are not tied to the open enrollment dates.

I signed up about 6 weeks before my employer provided healthcare ended in 2017. However, I'm not sure how much Covered California differs from the Federal Marketplace.
Splash is offline   Reply With Quote
Old 11-03-2018, 07:48 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Location: South central PA
Posts: 3,469
Before January 15, pay before January 31.
EastWest Gal is offline   Reply With Quote
Old 11-03-2018, 07:52 PM   #5
Recycles dryer sheets
 
Join Date: Oct 2017
Location: Orlando
Posts: 125
Would there be an option of using COBRA for the first 60 days after your termination date.?

"You have 60 days after you lose your benefits to elect to pay for COBRA coverage. However, even if you enroll on Day 60, your coverage is retroactive to Day 1. Of course, you'll have to pay the retroactive premiums for that period."

The plan would be to cover JAN and FEB via cobra - but don't pay for it unless you need it. Then enroll for the Mar 1 start point thus saving 2 months of insurance.
Retiree_Having_Fun is offline   Reply With Quote
Old 11-03-2018, 09:19 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Aug 2010
Posts: 1,089
Quote:
Originally Posted by Retiree_Having_Fun View Post
Would there be an option of using COBRA for the first 60 days after your termination date.?

"You have 60 days after you lose your benefits to elect to pay for COBRA coverage. However, even if you enroll on Day 60, your coverage is retroactive to Day 1. Of course, you'll have to pay the retroactive premiums for that period."

The plan would be to cover JAN and FEB via cobra - but don't pay for it unless you need it. Then enroll for the Mar 1 start point thus saving 2 months of insurance.
Yes. There is such 60 day grace period COBRA option for us.

This is our plan for 2019:
January -- use company group insurance. HR confirmed that with one day of employment, the whole month is covered.

February and onward -- use ACA (Kaiser Permanente Bronze HSA HMO). We expect to get subsidy with 2 bonuses as our main income plus some interest and dividend. ACA premium will be small. At the end of February, when bonuses issued, if for some wild reason, they exceed the income limit and cause us to lose subsidy, cancel ACA and sign up for CORBA. CORBA will cost the same as no subsidy ACA but with better networks.
fh2000 is offline   Reply With Quote
Old 11-17-2018, 08:34 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Aug 2010
Posts: 1,089
OP here.

I called CoveredCalifornia helpline, the dates to sign up for ACA to start on 2/1/19, are 12/16/18 thru 1/15/19.

My new question: We both do not have pension. We will only have dividends/interests, and 2 bonuses for 2019. What documents to prepare for the estimate of 2019 income? I have tax return for 2017 dividends/interests (about $15,000). But we are not sure how much the 2 bonuses will be until next February and there is no separate line on 2017 W-2 to list the bonus. It is simply added to the total of Wages. (Maybe I should call CoveredCalifornia again to find out)
fh2000 is offline   Reply With Quote
Old 11-17-2018, 09:35 AM   #8
Full time employment: Posting here.
Willers's Avatar
 
Join Date: May 2013
Posts: 725
What has worked for em (HC.gov so Covered Cal may be different) was a listing of the past year's MAGI and then a listing of the changes I expected with reasons (cap gains changes, income changes, bonuses, etc.). I itemized these and submitted that summary. I was quickly approved. I've found that they are fine if the estimates make sense.
__________________
“If you don't do it this year, you will be one year older when you do.” - Warren Miller
Willers is offline   Reply With Quote
Reply


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


Similar Threads
Thread Thread Starter Forum Replies Last Post
ACA Rate Increases For 2019 scrabbler1 Health and Early Retirement 386 02-27-2019 07:14 AM
When you put 2019 as your retirement year, does Firecalc assume January 1st, 2019 ? cyber888 FIRECalc support 12 09-26-2018 09:46 AM

» Quick Links

 
All times are GMT -6. The time now is 04:28 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.