Looking4Ward
Full time employment: Posting here.
I'm faced with an interesting scenario.
I'll be FIRE'd at the end of this month, although I've agreed to be an advisor to the company in return for a $40K salary. There are no benefits other than continued access to 401K contributions.
Points to consider:
1. My annual salary will be $40K minus maximum 401k contributions for an adjusted gross of $17K. That income, combined with CG and Dividends from after-tax investments minus deductions should keep me under the top of the 15% tax bracket
2. I can no longer obtain health insurance thru my job
3. DW's annual salary is $100K but I cannot get insurance thru her job
4. We will maintain "married filing separately" status
I've gone thru the ACA Marketplace application process at healthcare.gov, profiling myself as married but filing separately, claiming my income to be $17K, affirming that I live at the same address as DW but not providing any income information or SSN for DW, and have been able to progress to the point of qualifying for and enrolling in a plan, but haven't chosen a plan yet. The costs of the plans presented to me appear to be the same as plans I can pull up on the general "health insurance" websites.
I have not seen any mention on the website in regards to what subsidy or credit I would be eligible against the cost of health insurance.
My question is - would I be eligible for subsidy/credit and where would I learn how much that subsidy/credit is?
I'll be FIRE'd at the end of this month, although I've agreed to be an advisor to the company in return for a $40K salary. There are no benefits other than continued access to 401K contributions.
Points to consider:
1. My annual salary will be $40K minus maximum 401k contributions for an adjusted gross of $17K. That income, combined with CG and Dividends from after-tax investments minus deductions should keep me under the top of the 15% tax bracket
2. I can no longer obtain health insurance thru my job
3. DW's annual salary is $100K but I cannot get insurance thru her job
4. We will maintain "married filing separately" status
I've gone thru the ACA Marketplace application process at healthcare.gov, profiling myself as married but filing separately, claiming my income to be $17K, affirming that I live at the same address as DW but not providing any income information or SSN for DW, and have been able to progress to the point of qualifying for and enrolling in a plan, but haven't chosen a plan yet. The costs of the plans presented to me appear to be the same as plans I can pull up on the general "health insurance" websites.
I have not seen any mention on the website in regards to what subsidy or credit I would be eligible against the cost of health insurance.
My question is - would I be eligible for subsidy/credit and where would I learn how much that subsidy/credit is?