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Old 10-30-2016, 05:40 AM   #41
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Thankfully the discussions here have sprung ideas in how we can get the subsidy. One thing is certain--I can no longer afford to work.

When millionaires need and qualify for subsidies then there is a problem. The problem isn't that our MAGI is too low. It's that the cost is too high.

Don't criticize us for acting legally in our own self-interest. It's the American way.
Taking advantage of a program is not a crime. Creating the program should be... It really doesn't pay to work.

My DGF of 26+ years quit her job along with me at 44 years of age. She is now officially low-income She gets a 100% free healthcare program, administered by Medica with MinnesotaCare. There are no premiums. Mostly no deductibles ($25 for glasses). It includes healthcare, vision, pharmacy, dental, etc. Everything, including up to six ambulance rides per month. When she was working, that plan would be $150 a month or so, even with an employer subsidy.

Her NW is near $1M, all tucked away in a 401K, Roth and a small pension so her income is well under the $24K annual limit. She also co-owns a rental property with me.
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Old 10-30-2016, 07:13 AM   #42
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Taking advantage of a program is not a crime. Creating the program should be... It really doesn't pay to work.
Especially if you had payed 6 digit annual federal taxes for years.
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Old 10-30-2016, 07:42 AM   #43
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When millionaires need and qualify for subsidies then there is a problem. The problem isn't that our MAGI is too low. It's that the cost is too high.
With a progressive tax system, there is always the risk of demotivating people to stop working because with each dollar earned, more is given to the government. And policy makers typically look at the 50% effective tax rate including federal, state, and local as the tipping point.

With the ACA, I think this will start happening at lower dollar figures where a couple who make $100k a year will find it more appealing economically for one spouse to stay home, so that they can keep ACA premium subsidies.

Of course, if a significant number starts pursuing this strategy due to these perverse incentives (similar to how this thread is starting to expose), premium subsidies will ever increase, and the government will need to find more sources of taxation.

They will likely go after the 250k+ income earners or perhaps they'll start looking at things like wealth tax or perhaps Medicare for all? This will be an interesting ride.
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Old 10-30-2016, 02:52 PM   #44
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