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Old Yesterday, 12:43 PM
 
69,296 posts, read 69,893,196 times
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Quote:
Originally Posted by Kefir King View Post
Obamacare is government payment to insurance companies, not to you OR to the unemployed.
if you are unemployed not only will you get a subsidy based on income but if income is low enough they put you right on medicaid ,,,the subsidies are substantial when your income gets below the thresholds.


For 2019, after earning an income of $100,400 or higher for a family of four, $83,120 for a family of three, $65,840 for a married couple with no kids, and $48,560 for single individuals, you will no longer receive government health care subsidies.
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Old Yesterday, 12:44 PM
 
Location: NYC
12,410 posts, read 8,378,648 times
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If your taxes are high and your salary hasn't changed then that means the SALT went up for you and above the $10k limit. Anyone that has an expensive home with a high mortgage and property tax will get hit pretty hard. I know folks who have over $40k in mortgage interests and property taxes combined will get a nasty surprise when they do their taxes.

That's why people are fleeing NY and NJ if their property taxes and mortgage interests cannot be fully deducted like the past.

I just hope both NY + NJ figure out how not to screw every home owner with property tax hikes that eventually will cause the area to lose property values.

Padding taxes into utility and use taxes is not the way to go.
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Old Yesterday, 02:43 PM
 
Location: Straddling two worlds
2,261 posts, read 686,156 times
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Quote:
Originally Posted by mathjak107 View Post
if you are unemployed not only will you get a subsidy based on income but if income is low enough they put you right on medicaid ,,,the subsidies are substantial when your income gets below the thresholds.


For 2019, after earning an income of $100,400 or higher for a family of four, $83,120 for a family of three, $65,840 for a married couple with no kids, and $48,560 for single individuals, you will no longer receive government health care subsidies.
My income is $21k a year and I don't qualify for medicaid. People don't realize just how poor you have to be to qualify for all the alleged "freebie" stuff.
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Old Yesterday, 02:49 PM
 
885 posts, read 518,178 times
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Quote:
Originally Posted by Hannah5555 View Post
My income is $21k a year and I don't qualify for medicaid. People don't realize just how poor you have to be to qualify for all the alleged "freebie" stuff.
This. A few years ago I could only find part time work and was only getting about 18$/hour, but since it was part time I only made about 18k that year. The cheapest healthcare I could get was for ~$220/month
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Old Yesterday, 02:58 PM
 
69,296 posts, read 69,893,196 times
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Quote:
Originally Posted by Hannah5555 View Post
My income is $21k a year and I don't qualify for medicaid. People don't realize just how poor you have to be to qualify for all the alleged "freebie" stuff.
You need to be below 15k for Medicaid ... but the fact is you would get a pretty healthy aca subsidy on a silver plan ,you can also get a bronze plan free with more than 5k in subsidy on 21k income

A silver plan if you make 22k is 103 a month .. your subsidy is 484 a month so all you would pay in 2019 is 104 ..

FROM ACA CALCULATOR FOR NYC

The costs above are for a silver plan in your area. Silver plans are one of four levels of coverage that you can buy with financial help. These levels – bronze, silver, gold, and platinum .

For example, you could enroll in a bronze plan for about $0 per month ($0 per year), which is 0% of your household income). By enrolling in a bronze plan, you would receive $5,047 in subsidies, which would cover the entire amount of your bronze premium. For most people, the bronze plan represents the minimum level of coverage required under health reform. Although you would pay less in premiums by enrolling in a bronze plan, you will face higher out-of-pocket costs than if you enrolled in a silver plan.


Although your insurance company may cover most of the cost of your medical care, you generally have to pay something when you go to the doctor or have a hospital stay. These costs – which are in addition to the amount you pay each month – are called your “out-of-pocket” costs. The health reform law sets limits on the amount you have to pay out-of-pocket each year. Your out-of-pocket limit for a silver plan can be no more than $2,600 in 2019.

Whether you reach this maximum level will depend on the amount of health care services you use. Keep in mind that this only protects you when you go to doctors and hospitals that are in your insurer’s network. If you go to a doctor or hospital that is not in the network, you could end up paying much more.

Last edited by mathjak107; Yesterday at 03:11 PM..
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Old Yesterday, 03:01 PM
 
19,815 posts, read 13,029,041 times
Reputation: 13535
Quote:
Originally Posted by GoHuskies View Post
Agreed. Instead you should opt for no insurance and roll the dice. If something happens we the taxpayers will be there to bail you out of course. Privatize profits socialize losses or something to that nature.
Plenty of people in NYC and elsewhere are doing just that; especially those in their 50's who are just counting down days until they can go on Medicare.


City also has what basically amounts to free healthcare for all via municipal hospital system. Sam the Eagle (aka B de B) has come right out and said so, and upped the ante by saying said care was free for all regardless if immigration status.
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Old Yesterday, 03:22 PM
 
19,815 posts, read 13,029,041 times
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It is no secret; if you are single or even married couple with few to nil deductions or credits you are going to pay dearly in taxes. That has been true for ages and this new tax "reform" does little to change things.


Biggest source of those deductions or credits for many low or middle income households are kids. That and if you can pile on earned income tax credit things get even better.


Majority of households in NYC are renters; so that takes off table the other big (or least large) deduction; mortgage and other costs associated with homeownership.


Many low/middle income households either legitimately or not run game by racking up dependents by claiming their grandkids, parents, or anyone else they can who is living with them, and or at least they are paying enough support to qualify.


United States tax code like many other countries favors marriage and children. Singles get screwed royally.


If you aren't planning on having any kids best you can do is either not earn (good luck with that and live in NYC), or try to find ways to lower your AGI. Things like retirement savings and so forth. Other than that you've just got to fine tune your withholdings to ensure your not over or under paying.
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Old Yesterday, 03:29 PM
 
19,815 posts, read 13,029,041 times
Reputation: 13535
Quote:
Originally Posted by Hannah5555 View Post
My income is $21k a year and I don't qualify for medicaid. People don't realize just how poor you have to be to qualify for all the alleged "freebie" stuff.


Helped a friend do their taxes online who made just about that last year. Don't know how people do it, but yet she manages. Her debt level sort of scares me, but she's not worried. "It is what it is" she says and is more concerned about keeping a roof over head etc...


This is an older person who has been downsized and "leaned" out of jobs and career. She does have a four year college degree, but would need to go back for either more education or training to find something in this current job market that pays decent (by NYC standards) compensation.


She looked into coding but didn't have the patience to sit for several hours per day and crank out that nonsense.

Last edited by BugsyPal; Yesterday at 03:44 PM..
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Old Yesterday, 03:43 PM
 
Location: Straddling two worlds
2,261 posts, read 686,156 times
Reputation: 1579
Quote:
Originally Posted by BugsyPal View Post
Helped a friend do their taxes online who made just about that last year. Don't know how people do it, but yet she manages. Her debt level sort of scares me, but she's not worried. "It is what it is" she says and is more concerned about keeping a roof over head etc...


This is an older person who has been downsized and "leaned" out of jobs and career. She does have a four year college degree, but would need to go back for either more education or training to find something in this current job market that paid a decent (by NYC standards) compensation.


She looked into coding but didn't have the patience to sit for several hours per day and crank out that nonsense.
Interesting. I've thought about coding, too. I was a tech writer for a number of years so I'm accustomed to cranking out boring stuff . I might check it out.
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Old Yesterday, 03:51 PM
 
19,815 posts, read 13,029,041 times
Reputation: 13535
Quote:
Originally Posted by Hannah5555 View Post
Interesting. I've thought about coding, too. I was a tech writer for a number of years so I'm accustomed to cranking out boring stuff . I might check it out.


IMHO coding at some levels is fast becoming the next "secretarial pool" of 21st century.


Yes, for some and or for those well seasoned with certain languages compensation can be well into the six figures, but many others are around $60k to maybe under $90k. See: https://www.glassdoor.com/Salaries/n...15_KO14,33.htm


Suggested to this woman she look into medical coding since she has a secretarial/administrative assistant background. But wages there are worse than computer coding, and FWIU many of those jobs are being farmed out overseas to cheaper labor.
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