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-   -   ACA income question. (http://www.early-retirement.org/forums/f38/aca-income-question-73757.html)

gbstack 09-22-2014 06:41 PM

ACA income question.
 
My daughter is currently on our policy. She is a student and her income is very low.

If she started working full time and I dropped her from our coverage would I still have to include all of her income for the year, or just the income while she was on our policy?

Thanks in advance for your help!

ziggy29 09-22-2014 07:05 PM

Is she under 26 years old?

gbstack 09-22-2014 07:21 PM

Yes she is under 26!

MichaelB 09-23-2014 06:38 AM

Quote:

Originally Posted by gbstack (Post 1496193)
My daughter is currently on our policy. She is a student and her income is very low.

If she started working full time and I dropped her from our coverage would I still have to include all of her income for the year, or just the income while she was on our policy?

Thanks in advance for your help!

IF you continue to declare her as a dependent on your tax return you also need to include her income as part of your ACA household. If she files her own tax return and is no longer a tax dependent of yours you don't need to consider her as part of your ACA household.

wolf 09-23-2014 07:07 AM

Have similar issue. I thought if daughter earned more than $3900, IRS rules, she could not be claimed as dependent. If less, and she meets other
rules, can be claimed as dependent.

Also, have ACA, in CA, it's called Covered CA. Very confusing. Our daughter
qualified, but started working more hours, so we tried to buy separate
insurance but:

1. New insurer's would not sell us a policy, because open enrollment is in
I think Nov-Dec. (might be Oct).

2. Unless, daughter's ACA insurance was cancelled first, daughter could
not apply for new insurance, then she would be uninsured for a while.

3. Also, told don't worry, ACA, will not cancel policy, When you file
your tax returns in 2015 for 2014 year, if you do not qualify because
income to high, you will pay the difference.......ha....

4. My concern, by the time the IRS figures it out, it could be 2-3 years
later (2015-2017). And I will have forgotten all of the details.:mad:

5. In our case, may decide to skip ACA next year. To complicated
especially if you need to make changes.

rbmrtn 09-23-2014 07:32 AM

Quote:

Originally Posted by wolf (Post 1496286)
Have similar issue. I thought if daughter earned more than $3900, IRS rules, she could not be claimed as dependent. If less, and she meets other
rules, can be claimed as dependent.

Also, have ACA, in CA, it's called Covered CA. Very confusing. Our daughter
qualified, but started working more hours, so we tried to buy separate
insurance but:

1. New insurer's would not sell us a policy, because open enrollment is in
I think Nov-Dec. (might be Oct).

Change in income or household status qualifies for special enrollment.

https://www.healthcare.gov/how-can-i...ollment-period

Covered CA should be similar

https://www.coveredca.com/coverage-b...g-life-events/

wolf 09-23-2014 07:38 AM

Quote:

Originally Posted by rbmrtn (Post 1496290)
Change in income or household status qualifies for special enrollment.

https://www.healthcare.gov/how-can-i...ollment-period

Covered CA should be similar

https://www.coveredca.com/coverage-b...g-life-events/


Agree, but to "qualify" for special enrollment, and "prove" it to new insurer a bureaucratic nightmare. Easier to let it go, and wait for open enrollment. Thanks.

2B 09-23-2014 08:47 AM

Quote:

Originally Posted by wolf (Post 1496286)
5. In our case, may decide to skip ACA next year. To complicated
especially if you need to make changes.

I'm not sure what you mean by this. The ACA mandated people have health insurance, defined what had to be in a health insurance policy, attempted to increase Medicaid coverage (did in some states) and created subsidies for people with specific income levels.

Covered California is only an exchange set up for getting policies with subsidies. You don't have to use CC. Insurance is available from other sources but you won't get the subsidies although this is even under discussion since the private "exchanges" are working fine. It was many of the state sites that were totally screwed up. Can anyone spell Oregon? Plus the Federal site can be said to have had some issues. There's no telling what will happen later this year.

There's no escaping the ACA.


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