NewEnglander
Recycles dryer sheets
- Joined
- Feb 9, 2020
- Messages
- 84
My DW and I are both retiring on 12/31/20. I assume that we can apply for ACA now even though we are still working? Or do we have to wait until we actually leave the workforce?
We plan on keeping annual income below the 67K so we can apply for premium tax credits. I assume that we will have to explain why our income will be declining so much? I plan on sending a letter indicating that we are retiring and will be living off of our retirement accounts.
Also we are 58 and 55 year old. I won't be able to access my retirement accounts until August when I'm 59.5 years old. We plan on living off savings until then so we won't have any income at all until we get access the account after August. Will this cause any issue? I saw somewhere that the ACA wants to see quarterly income? What happens if we won't have much of any income for the first 2 quarters of the year?
We plan on keeping annual income below the 67K so we can apply for premium tax credits. I assume that we will have to explain why our income will be declining so much? I plan on sending a letter indicating that we are retiring and will be living off of our retirement accounts.
Also we are 58 and 55 year old. I won't be able to access my retirement accounts until August when I'm 59.5 years old. We plan on living off savings until then so we won't have any income at all until we get access the account after August. Will this cause any issue? I saw somewhere that the ACA wants to see quarterly income? What happens if we won't have much of any income for the first 2 quarters of the year?