How do you calculate MAGI (tax filed jointly) for ACA if one partner with Medicare?

[cyber888]

My DW is older and we will collect Social Security at the same time. I will be 62 yrs old and she will be in her 70s. So, I will get ACA coverage at 62 and she will be eligible to get Medicare when she collects Social Security as she is older than 65. (By the way, she can't get Medicare unless I collect social security, because she has not worked. She can only get SS income and Medicare when I collect my SS income).

So, my question is, if our yearly planned income is $72,000/year and we file taxes jointly, and I am getting ACA health insurance, do I put the 50% of that income (or $36,000) as my estimated MAGI for ACA purposes ? If I put 72,000, I won't be eligible for ACA subsidies .. that will be a huge bump in my ACA cost if she transitions to Medicare and I'm still with ACA ??

 

[SevenUp]

The link under MAGI for Affordable Care Act purposes addresses this.

 

[N02L84ER]

From the link.


Marketplace savings are based on total household income, not the income of only household members who need insurance.
If anyone in your household has coverage through a job-based plan, a plan they bought themselves, a public program like Medicaid, CHIP, or Medicare, or another source, include them and their income on your application.
When you apply you can state which household members need coverage.

 

[ivinsfan]

Well look at it this you'll get SS money to help with the increase cost of insurance and it's only for 3 years until you go on Medicare.

 

[cyber888]

From the link.


Marketplace savings are based on total household income, not the income of only household members who need insurance.
If anyone in your household has coverage through a job-based plan, a plan they bought themselves, a public program like Medicaid, CHIP, or Medicare, or another source, include them and their income on your application.
When you apply you can state which household members need coverage.

Ok thanks

 

[orchid55]

You might want to double check whether she can get Medicare before you get SS payments. I didn't work and and currently getting Medicare and my husband is not yet receiving SS payments. I can't get any SS payments until he starts his payments, but Medicare seems to be different ( at least for us). My husband is older than I am so that may be the difference.