The big advantage is with low income. With income under $30K in NY I get a $0 a month plan with a MOOP of $360 a year.
That's NY. You won't get anything nearly that good of a deal in IL with $29K income.I haven't paid anything in almost 10 years now. You all have to master the MAGI.
I hate to break it to you, tax exempt muni interest still counts against the ACA.Getting in under these limits is just another reason for me to try to maximize my investments in tax exempt munis (this and living in a high income tax state and locality).
So do untaxed SS benefits.I hate to break it to you, tax exempt muni interest still counts against the ACA.
Sounds like a First World Problem to me.That's NY. You won't get anything nearly that good of a deal in IL with $29K income.
I'm having trouble keeping my MAGI down with all these high interest rate CDs on top of the usual dividends & capital gains distributions. I'm too young for SS anyway, and I'm not taking anything from my retirement funds to minimize MAGI.
I haven't paid anything in almost 10 years now. You all have to master the MAGI.
GenXguy said:I'm having trouble keeping my MAGI down with all these high interest rate CDs on top of the usual dividends & capital gains distributions. I'm too young for SS anyway, and I'm not taking anything from my retirement funds to minimize MAGI.
All the high MAGIs here could maybe realize income every other year or every third year and that way some years are in the subsidy zone.
All true, but maybe a total re-exam of what is held would be beneficial in the big picture.Did you catch that GenXguy and I are talking about the normal distributions on our taxable accounts? Managing that would require changing investments in the after-tax accounts - a possibility to be sure, but not as easy as 'realize income every other year or every third year'.
But you will note I was responding to your post that included a very low out of pocket. It's many times higher here for a $29K income, and jumps more than double that with a little more MAGI.Sounds like a First World Problem to me.
Even with income around $29K (just under 200% FPL) you get very good subsidies ($49 a month for the SLCSP premium) and Cost Sharing Reductions in IL.
None of the plans offered in NY have out of network at all. The Silver CSRs are the only way to get lower OOPs on the cheap short of going to Golds or Platinums.But you will note I was responding to your post that included a very low out of pocket. It's many times higher here for a $29K income, and jumps more than double that with a little more MAGI.
And the out of pocket is much higher for out of network.
Exactly. I'm not pulling anything out, it's all interest income, dividends, and capital gains distritributions. That strategies mentioned are not relevant to minimizing that income. Selling my investments would increase income, not reduce it.Did you catch that GenXguy and I are talking about the normal distributions on our taxable accounts? Managing that would require changing investments in the after-tax accounts - a possibility to be sure, but not as easy as 'realize income every other year or every third year'.
Re-examing won't help for reasons I mentioned.All true, but maybe a total re-exam of what is held would be beneficial in the big picture.
Yes, but I was specifically talking about IL. I already know about silver plans - I have one. But I'm just saying it's much more out of pocket here than your figures for NY for someone with a $29K income.None of the plans offered in NY have out of network at all. The Silver CSRs are the only way to get lower OOPs on the cheap short of going to Golds or Platinums.
They just changed the law here for it. The 250% FPLs or lower are $0 a month with a MOOP of $2K. The 200% FPLs and lower are MOOP $360.Yes, but I was specifically talking about IL. I already know about silver plans - I have one. But I'm just saying it's much more out of pocket here than your figures for NY for someone with a $29K income.
I never had to go out of network so no bills. The networks are sufficient in my area.And did you mean those plans have no out of network coverage, and you're stuck with the whole bill no matter how high?
I guess all in BRK.B is off the table then?Re-examing won't help for reasons I mentioned.
To put money in BRK.B, would require me to take some big capital gains by selling my dividend earning investments, which would generae a lot more income than the dividends themselves, like I was saying in a previous post. Or I would have to sell my CDs that are earning about 5%, for 1 to 5 years. And BRK.B is high at $407.11. It has jumped lately and is risky to invest new money in it with a recession on the horizon, if that's money coming from CDs with guaranteed 5% interest. Basically, interest rates really rising messed things up for me, and then I was forced to retire a year early.I guess all in BRK.B is off the table then?
They are always sufficient until they're not. So, no out of network coverage?I never had to go out of network so no bills. The networks are sufficient in my area.
They might be reasonable compared to paying the full price, but MOOP is $3000 in network for the best plan in the under 200% FPL, and $13,900 out of network, so both those figures are many times your $360 MOOP.They just changed the law here for it. The 250% FPLs or lower are $0 a month with a MOOP of $2K. The 200% FPLs and lower are MOOP $360.
I know that the CSRs are higher in your area but they still should be reasonable.