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What's the minimum income I would want to take to get maximum ACA benefit?
Old 05-17-2020, 04:57 PM   #1
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What's the minimum income I would want to take to get maximum ACA benefit?

We have the option of taking after tax income or before tax. I've read that we don't want income to be too low, otherwise you'll get put on Medicaid. I'm in NYS and curious what the minimum income I want to show is to get a good ACA benefit.
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Old 05-17-2020, 05:03 PM   #2
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This online calculator will let you plug in different incomes to see what the corresponding subsidy will be. It'll also tell you when you're not eligible due to the income being too low.

https://www.kff.org/interactive/subsidy-calculator/
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Old 05-17-2020, 05:21 PM   #3
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Originally Posted by RetiredAt55.5 View Post
This online calculator will let you plug in different incomes to see what the corresponding subsidy will be. It'll also tell you when you're not eligible due to the income being too low.

https://www.kff.org/interactive/subsidy-calculator/
Perfect! Thanks much
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Old 05-17-2020, 05:46 PM   #4
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In general, you want to be at least at the Federal Poverty Level(FPL).
If one goes to a Silver plan, then typically the sweet spot is staying under 150% of FPL.
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Old 05-17-2020, 06:05 PM   #5
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Depends on your state, but the general guide is 133-138% of the federal poverty level. Happy googling.
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Old 05-18-2020, 05:49 AM   #6
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Sometimes the subsidy amount at maximum exceeds your health insurance premium, in which case you might as well take a little more income.
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Old 05-18-2020, 08:14 AM   #7
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I always set ours up for making about $25,000 in taxable, then end up making $75,000 to $250,000 and have to pay back all the subsidy at end of year.

So the ACA subsidy looked really good on paper but in reality hasn't helped us much at all.
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Old 05-18-2020, 08:25 AM   #8
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We have the option of taking after tax income or before tax. I've read that we don't want income to be too low, otherwise you'll get put on Medicaid. I'm in NYS and curious what the minimum income I want to show is to get a good ACA benefit.
NY is special in that it has invoked the BHP option of the ACA. This means income under $25,520 (1 person house) is $20 a month any age. Income under $19,140 is free.

The subsidy calculator is inaccurate for incomes 200% FPL or lower in NY. There is no subsidy for plans under 200% FPL in NY, since these plans are BHP, and BHP plans do not involve subsidies.
https://www.kff.org/interactive/subsidy-calculator/

Info on the BHP plan:
https://info.nystateofhealth.ny.gov/...%20Sheet_3.pdf

The Medicaid plans and the BHP plans are almost identical, but BHP does not cover vision or dental.
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Old 05-19-2020, 05:28 AM   #9
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NY is special in that it has invoked the BHP option of the ACA. This means income under $25,520 (1 person house) is $20 a month any age. Income under $19,140 is free.

The subsidy calculator is inaccurate for incomes 200% FPL or lower in NY. There is no subsidy for plans under 200% FPL in NY, since these plans are BHP, and BHP plans do not involve subsidies.
https://www.kff.org/interactive/subsidy-calculator/

Info on the BHP plan:
https://info.nystateofhealth.ny.gov/...%20Sheet_3.pdf

The Medicaid plans and the BHP plans are almost identical, but BHP does not cover vision or dental.
Thank you. Sounds like I need my income to be, at least, 200%FPL.
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Old 05-19-2020, 07:45 AM   #10
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Thank you. Sounds like I need my income to be, at least, 200%FPL.
Why would you want to pay more? Just stay under 200% if you can. Once you get over 200% the price goes way up and the coverage goes way down.
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Old 05-19-2020, 03:47 PM   #11
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Why would you want to pay more? Just stay under 200% if you can. Once you get over 200% the price goes way up and the coverage goes way down.
Because I'm in NY and because of the prior post that explains how NY is unique. Let me know if you think I'm missing something after your review. Seriously, thanks for your input. That's what I asked for.
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Old 05-19-2020, 10:25 PM   #12
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Originally Posted by Fermion View Post
I always set ours up for making about $25,000 in taxable, then end up making $75,000 to $250,000 and have to pay back all the subsidy at end of year.

So the ACA subsidy looked really good on paper but in reality hasn't helped us much at all.
Well I personally hope you keep blowing past your plans and tell us all about it as you do it.
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Old 05-24-2020, 08:09 AM   #13
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Because I'm in NY and because of the prior post that explains how NY is unique. Let me know if you think I'm missing something after your review. Seriously, thanks for your input. That's what I asked for.
If the BHP plan is widely accepted by doctors and facilities in NY (you can check with yours) I don't see why you wouldn't take this plan. The costs are dirt cheap, zero deductible is crazy good.

https://info.nystateofhealth.ny.gov/...0English_1.pdf

Medicaid is a problem in some states because a lot of providers won't take it, but the NY plan is different.
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