Originally Posted by hanginthere
I'm not going to go back and and and find my original response but I will clarify. Yes the premium will most likely go down substantially on ACA from what you are paying now. I was actually with BCBS and signed up with them after leaving Cobra. My premium was actually a lot less but I didnt realize that they had automatically signed me to an ACA policy till several months later which was nice. But then I got my tax bill which was 1000% higher than what I was used to. I assumed this was because I had made some withdrawals on my portfolio until I called my CPA who told me I would not have had to pay anything based on my current bracket but it was because I had worked a few month before declaring and because ACA could be considered taxable for those in certain brackets. I am in the medical field and was not referring to my own present premium going up 30% but rather to folks like yourself, typically families with 4 kids w/o a company policy or for folks who own their own business whose deductibles I typically saw go througth the roof after ACA. My suggestion is that you just talk to your FA or CPA and find out the tax ramifications based on your income pre facto. I'm just repeating what my CPA told me. Any responder who disagrees is welcome to talk to him.
Most people who post here are really into tax planning and familiar with the ACA rates and income requirements and alternative options and costs. It is what we discuss almost daily. Many early retirees here would never have been able to retire at all if not for the ACA and the elimination of pre-existing condition clauses as we could not get insurance at any price.
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)