how to estimate using sherpa when split household

[whitestick]

Specifically how do you calculate the cost when it says household income and one person is covered by Medicare, and the other needs the exchange insurance. Do you have to use the total household income, or do you split it in some fashion - 50%, actual income received by each, if filing married but separate (I think that is the category), or some other way. Or must you be unmarried and report each separate income for tax purposes. Another marriage penalty?

 

[growing_older]

What is sherpa in this question?

 

[Meadbh]

I thought this thread was about a trek in the Himalayas!

 

[ziggy29]

Specifically how do you calculate the cost when it says household income and one person is covered by Medicare, and the other needs the exchange insurance. Do you have to use the total household income, or do you split it in some fashion - 50%, actual income received by each, if filing married but separate (I think that is the category), or some other way. Or must you be unmarried and report each separate income for tax purposes. Another marriage penalty?

If you are referring to potential subsidies and cost sharing through the Exchange, if you are married you *must* be joint filers and you must apply together, even if only one of you needs insurance on the Exchange. Your joint income determines the maximum percentage (and amount) you can be required to pay for coverage, and any overage to that amount (whether 1 person needs it or a family) is what becomes subsidized. The net result is that when only one of you needs insurance, your total premiums paid can be the same as if you both were enrolling in a plan.

Separate filers are not eligible for any tax credits or cost sharing.

[Edit to add: "Sherpa" here refers to http://www.healthsherpa.com.]

 

[whitestick]

Thanks ziggy29, I was afraid of something like that. Another reason to put off that wedding.