Obamacare vs. taking Penalty + going to clinics / Low Income (2015, calculation)

[jonbenson]

PENALTY

What do you think about the way they say you must take our gov healthcare or we'll penalize you some bucks??
Anyway..
I'm confused about these rules, here it is the last minute tomorrow is the deadline
I work at a job and make $10 an hour about 38 hours a week , no kids no unusual details
>> I'm healthy about 50 yrs old and rarely ned to see the doctor but occasionally do
That's $ 19,760 gross a year about 20 K
They say they go by MAGI Modified adjusted income for their calculatiosn and possible subsidies
I understand that Modified adjusted income is similar to AGI Adusted income sometimes the same amount
AGI Adjusted income is your gross minus a standard deduction
Modified adjusted income, if I am correct is the same deduction as AGI Adusted income but you can get more deducted, there are more conditions which allow you to have a greater deduction
But I don't have any of theses extra conditions, my life is simple
So it seems at minimum I will get an AGI deduction which is a big chunk, $6,200
the result is 20 K minus $ 6,200 which equals $ 13,800
My friend tells me that is low enough that if I don't enroll in ACA (Obamacare) that I won't even get a penalty. He also says that this is the first year of penalty which is $99 and that this enrollment period refers to 2014 as with taxes, one is delaing with the previous year not the current one
even though this is 2015 and the new penalty jumped up to $325
He also says there is another exemption $3900 and that takes it down
even further $13,800 minus $3900 = $9500
Either way $13,800 or $9500 they both seem to be under he amount where I would even be penalized
Yes I've been to the gov website and others, I find many of the details confusing
And I decided to not get Obamacare and had a $99 or $325 penalty a year. It's not that much

DEDUCTABLES in Bronze and Silvers

But say I wanted to enroll for Obamacare. I spoke to somebody on the phone who was a goverment recommeded advisor. He was saying yeah you could get a bronze fo $20-$50 a month after subsidy but the out of pocket deductable is about $5,000. I not talking about the deductable here I was earlier I mean after you get the plan this plan you have to pay this deductable meaning you pay $5,000 out of your own pocket before the bronze plan even begins to cover you, partially at that
He says do the silver, pay maybe $75-$100 a month and the deductable is only about $500 not $5000 (subsidized figures for low income people) (but is it really that low? Is this accurate? $4500 less than bronze ??)
Anyway, say I do that. The plan is $75 a month times 12 months = $900 a year. The deductable is $500
So if I see the doctor add the two = $ 1,400 a year minimum and add to that copays if I get treated
Don't see the doctor all year = $900

Now compare to having no Obamacare. I am enrolled at one of the low income health clinics which is not Obamacare. You need a low income I have a low income
The only thing that I used the doctor for last year was a painful finger sprain.
You always have to see their general practitioner before any specialist. So on a sliding scale if I talk to a doctor for 5 minutes that's always about $90 same price. Then they referred me to s specialist at an affiliated hospital ER I paid about $40 (value over $1000) for this specialist to check my finger and talk to me. She basically don't worry about it it's not broken, the splint you bough ta the drugstore is good (about 5-10 minutes) no further treatment necessary. They also had me take an X-Ray, my share about another $40
So $90 + $40 +40 = TOTAL $170
So this was what I spent last year on healthcare (excluding dental)
You don't pay each month at the clinic, you pay when you have something done.

I'm thinking take the Obamacare penalty if there is one and keep going to the clinic when necessary but I wonder if I have all my facts straight
So if I don't enroll for Obamacare and also try to claim exemption for the penalty do I have to do it now in the enrollment period or will the new tax forms just cover it?

[livingsinglenyc]

Won't you qualify for medicaid after your deductions?

[jonbenson]

Nope, I make too much for Medicaid
Unless I'm wrong
And that calculation method is different from what I hear

[Kefir King]

Medicaid limits in states that accepted the expansion has expanded a LOT.
So make triply sure you don't qualify.

[Wells5]

Originally Posted by Kefir King

Medicaid limits in states that accepted the expansion has expanded a LOT.
So make triply sure you don't qualify.

The maximum income in NYS for a single person without any type of disability to qualify for Medicaid is $16,105 per year.

My advice: take the bronze plan and go to the free clinic if needed. It's very easy to run up a $5,000+ bill if you need to be admitted to the hospital. A major ailment can cost in the hundreds of thousands and that would be covered.

IMO, navigating through the Obamacare rules and regulations is an accounting nightmare for ordinary people.

[eddiep83]

Obama care is awful.

I'm paying $309a mo for the most basic healthcare... if you can even call it that plan. No dental, no vision.

My plan only gives me 50% off, they won't start paying until almost $7,000.

I'm 31 and rarely go to the doc, still have to pay out of pocket for the dentist.

Basically I'm paying almost $4k a year just for a 50% discount at the doc. If I go to the doc once a year and it costs $500 I get to pay $250...woohoo!

Much cheaper not to get obamacare and just pay out of pocket but then there is a 1.5% penalty so I might as well just get the obamacare in case something REALLY bad happens.

but it's a joke... it really is, all the taxes I pay and I can't go see a doc, yet murderers and rapists sitting in jail get docs and dentists at their beckoning calls.

[livingsinglenyc]

Originally Posted by jonbenson

Nope, I make too much for Medicaid
Unless I'm wrong
And that calculation method is different from what I hear

I thought after your deductions you made about 13k.

[leoliu]

Originally Posted by eddiep83

Obama care is awful.

I'm paying $309a mo for the most basic healthcare... if you can even call it that plan. No dental, no vision.

My plan only gives me 50% off, they won't start paying until almost $7,000.

I'm 31 and rarely go to the doc, still have to pay out of pocket for the dentist.

Basically I'm paying almost $4k a year just for a 50% discount at the doc. If I go to the doc once a year and it costs $500 I get to pay $250...woohoo!

Much cheaper not to get obamacare and just pay out of pocket but then there is a 1.5% penalty so I might as well just get the obamacare in case something REALLY bad happens.

but it's a joke... it really is, all the taxes I pay and I can't go see a doc, yet murderers and rapists sitting in jail get docs and dentists at their beckoning calls.

Earn little and/or use the medical system excessively, and also the fat salaries of the insurers.


You contributions go to subsidize those who earn little and/or use the medical system excessively, and to the fat and growing salaries of the insurers.

Obcare is the most ridiculous daylight robbery on many Americans.