2020 ACA ("Obamacare") Update for Full Timers

[TechWriter]

2020 ACA Health Plans with Nationwide Networks

[lbrjet]

TechWriter wrote:

lbrjet wrote:
Income of prior years doesn't figure in at all. You will need income (like taxable 401K / IRA distributions) to qualify for a subsidy. I don't think SS counts as income under ACA rules. Better do some more research on ACA subsidies if you are planning on one. You need enough taxable income to rise above 140% of the poverty level to qualify. Otherwise your only option is Medicaid which brings in a whole other set of rules.

What's included as income

Thanks, I see that all SS payments are included in the income calculation.

[bigred1cav]

ROBERTSUNRUS wrote:
🙂 Hi, one of my daughters was forced, by penalty, to buy the Un-afordable care act policies. She has three children and her deductible was $5,000.00 per person. $20,000.00 in deductibles for her family. Nothing affordable about that.

Then you are fine with insurance companies denying coverage to sick people and telling doctors what and how they may treat the ill.

Just exactly how do we as a people suffer when a single payer health care system denies profits to insurance companies and the law passed by right wing owned polticians prevents negotiations for medications? How does a group of all of us affect health care? Is profit more important than my grandchildren?

Please cite some facts not fox lies and breitbart fantasies.

[TechWriter]

lbrjet wrote:
Income of prior years doesn't figure in at all. You will need income (like taxable 401K / IRA distributions) to qualify for a subsidy. I don't think SS counts as income under ACA rules. Better do some more research on ACA subsidies if you are planning on one. You need enough taxable income to rise above 140% of the poverty level to qualify. Otherwise your only option is Medicaid which brings in a whole other set of rules.

What's included as income

[lbrjet]

Income of prior years doesn't figure in at all. You will need income (like taxable 401K / IRA distributions) to qualify for a subsidy. I don't think SS counts as income under ACA rules. Better do some more research on ACA subsidies if you are planning on one. You need enough taxable income to rise above 140% of the poverty level to qualify. Otherwise your only option is Medicaid which brings in a whole other set of rules.

[philh]

Fulltimer50 wrote:
At what age do you plane to retire? You get Medicare at 65.

62 - 65...

Wife is likely eligible for SSDI, and she's 5 years younger than I (61). My retirement won't happen until she has medical coverage outside of my employment. It would likely take us a year to get the house truly prepped to sell, so now I'm at 63+. It's kind of leaning towards just waiting until 65.

[ROBERTSUNRUS]

🙂 Hi, one of my daughters was forced, by penalty, to buy the Un-afordable care act policies. She has three children and her deductible was $5,000.00 per person. $20,000.00 in deductibles for her family. Nothing affordable about that.

[Fulltimer50]

At what age do you plane to retire? You get Medicare at 65.

[philh]

This is going to play a part in our retirement plans.

How does the income subsidy work, on the prior years income level? Once I retire, I will only be receiving SS... but the prior year, it will be higher.