Will ACA ask for my 2018 income or estimated 2019 income when we sign up in 2019?

[GNXGuy]

Just started exploring what health insurance is going to cost me when my wife and I retire early (53 & 52) sometime in 2019.

Planning to early retire in 2019. Our 2018 income was over the allowed amount for a subsidy but 2019 income will be less than the 400% of poverty level to receive a subsidy. Will they be asking for my 2018 income when I apply in 2019 or just what my estimated income will be for 2019.

2nd question--Am I understanding that a married couple of 2 needs to keep their MAGI below $65,840 (400% of $16,460) for 2019?............so if my MAGI is $64,000 I get a full subsidy and if my MAGI is $65,841 I get zero subsidy. Is this accurate?

thank you

Joe

 

[Dtail]

Just started exploring what health insurance is going to cost me when my wife and I retire early (53 & 52) sometime in 2019.

Planning to early retire in 2019. Our 2018 income was over the allowed amount for a subsidy but 2019 income will be less than the 400% of poverty level to receive a subsidy. Will they be asking for my 2018 income when I apply in 2019 or just what my estimated income will be for 2019.

2nd question--Am I understanding that a married couple of 2 needs to keep their MAGI below $65,840 (400% of $16,460) for 2019?............so if my MAGI is $64,000 I get a full subsidy and if my MAGI is $65,841 I get zero subsidy. Is this accurate?

thank you

Joe

They will ask for your 2019 estimated MAGI.
2nd question - that is correct, thus the falling off the cliff concept.
The subsidy for 64k+ though will be lower than for 30k.

 

[GNXGuy]

Thank you, this is all new to me.

So the subsidy increases and MAGI decreases.

It looks like if we keep our MAGI below the $65,000 cliff the ACA gives me about a $1000.00 subsidy toward our coverage. Does this sound accurate

Thanks again

Joe

They will ask for your 2019 estimated MAGI.
2nd question - that is correct, thus the falling off the cliff concept.
The subsidy for 64k+ though will be lower than for 30k.

 

[candrew]

You can model various MAGI scenarios that will estimate subsidies for you at https://www.healthsherpa.com

 

[USGrant1962]

I just started my first ever ACA app and they asked for 2107, 2018 and a 2019 estimate. For me 2017 and 2018 are over "the cliff", but my 2019 estimate is under. Notwithstanding that, I was approved for the subsidy online almost immediately. I worked half of 2017, and sold a bunch of stock to partially fund the next few years' spending in 2018. I did have to enter W-2, capital gains, and one or two other categories of income separately.

However, I'm in Maryland which has its own system, so YMMV.

 

[Dtail]

Thank you, this is all new to me.

So the subsidy increases and MAGI decreases.

It looks like if we keep our MAGI below the $65,000 cliff the ACA gives me about a $1000.00 subsidy toward our coverage. Does this sound accurate

Thanks again

Joe

As @candrew pointed out, check out Healthsherpa.com. The total charges and subsidies can range greatly by county in the same state.