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Old 03-10-2017, 06:57 PM
 
3,717 posts, read 2,202,867 times
Reputation: 4169

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Quote:
Originally Posted by NewbieHere View Post
@WouldLoveto, I put in a low amount like $30k and coverca didn't even show any subsidy. So I got frustrated and left the exchange. So it was not the income level, something wrong with the software but she couldn't wait any longer, she just went out of the exchange. I think if I put in the real amount, she might net some small amount, not much.
What happened to me the first time I tried to talk to our state exchange people was that the lady put in my income of 40K and then put me in as a dependent with the same income!!! So it showed a household income of 80k.

I'd ask her what the max was, she'd say 42K and I'd say ok if I make 40K how can there be no subsidy? And she had no answer. Seriously. She just keep saying "I don't know".

At that time, we were allowed to keep our current plans for one more year so I did that. 3 weeks later the site traffic finally died down enough so that I could log in and see what happened and that's when I found her error. I'm still amazed she was too dumb to see it - it was right there on the first page as a summary. Me the insured, me the dependent and the total household income of 80K.

I also found out that she did not input my business expenses correctly but the simple fact that my household income showed up at 80K should have been a major clue to her.

I could not afford the insurance at all without the subsidy - it's over 18% of my GROSS income. I already work over 40 hours a week plus my own business.

I considered leaving my lowest paying job but the insurance wouldn't be free, just less per month. All in all though I'd lose probably 4-5K/yr gross if I did that even with the premium savings. And then I'd have more time to pick up bookkeeping hours or build my business which would raise my income again, so I've stayed on because I love the people I work with.

It just stinks all around.

ps - I've found our state exchange people to be useless. All they can do is sign you up if you're lucky. They cannot answer any questions. The commercials make them sound like the best thing since sliced bread. All lies.
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Old 03-10-2017, 07:00 PM
 
489 posts, read 326,752 times
Reputation: 1149
Quote:
Originally Posted by NewbieHere View Post
I think you made very biased comment.
Quote:
Originally Posted by NewbieHere View Post
Remember these are online discussion, are you confused?

Perhaps YOU'RE the one that needs to remember that this is an online discussion... And with online discussions you're obviously going to be reading biased comments.
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Old 03-10-2017, 07:47 PM
 
Location: SoCal
13,252 posts, read 6,351,451 times
Reputation: 9873
Quote:
Originally Posted by bigdogmom13 View Post
Perhaps YOU'RE the one that needs to remember that this is an online discussion... And with online discussions you're obviously going to be reading biased comments.
Maybe you should got back and read that post instead of making snarky comment that added zero new information. He said the Republican did this and that. What he said was biased and thatwas my comment to him. My comment was not that online discussion is not biased.

The other post you quoted was from another poster. Let's not combine the two together since it was not made from the same person. it's like mixing apples and oranges. She was confused it was news.
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Old 03-10-2017, 07:49 PM
 
Location: SoCal
13,252 posts, read 6,351,451 times
Reputation: 9873
Quote:
Originally Posted by WouldLoveTo View Post
What happened to me the first time I tried to talk to our state exchange people was that the lady put in my income of 40K and then put me in as a dependent with the same income!!! So it showed a household income of 80k.

I'd ask her what the max was, she'd say 42K and I'd say ok if I make 40K how can there be no subsidy? And she had no answer. Seriously. She just keep saying "I don't know".

At that time, we were allowed to keep our current plans for one more year so I did that. 3 weeks later the site traffic finally died down enough so that I could log in and see what happened and that's when I found her error. I'm still amazed she was too dumb to see it - it was right there on the first page as a summary. Me the insured, me the dependent and the total household income of 80K.

I also found out that she did not input my business expenses correctly but the simple fact that my household income showed up at 80K should have been a major clue to her.

I could not afford the insurance at all without the subsidy - it's over 18% of my GROSS income. I already work over 40 hours a week plus my own business.

I considered leaving my lowest paying job but the insurance wouldn't be free, just less per month. All in all though I'd lose probably 4-5K/yr gross if I did that even with the premium savings. And then I'd have more time to pick up bookkeeping hours or build my business which would raise my income again, so I've stayed on because I love the people I work with.

It just stinks all around.

ps - I've found our state exchange people to be useless. All they can do is sign you up if you're lucky. They cannot answer any questions. The commercials make them sound like the best thing since sliced bread. All lies.
No, I did it myself, I didn't put her as my dependent because she was on her own. Nobody helped me so it was not anyone's mistake. It was the software.
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Old 03-10-2017, 07:52 PM
 
Location: On the road
5,960 posts, read 2,902,204 times
Reputation: 11407
Quote:
Originally Posted by NewbieHere View Post
It's an advance by age, not income unlike subsidy like Obamacare. ACA was subsidy not tax credit. Learn the difference. WSJ had an article specifically on this recently.
You're wrong, ACA subsidy is a refundable tax credit.


Straight from the IRS here: https://www.irs.gov/affordable-care-...ium-tax-credit

The premium tax credit – also known as PTC – is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace. To get this credit, you must meet certain requirements and file a tax return.



From the Healthcare Exchange here: https://www.healthcare.gov/glossary/premium-tax-credit/

A tax credit you can use to lower your monthly insurance payment (called your “premium”) when you enroll in a plan through the Health Insurance Marketplace. Your tax credit is based on the income estimate and household information you put on your Marketplace application.
If your estimated income falls between 100% and 400% of the federal poverty level for your household size, you qualify for a premium tax credit. You can use all, some, or none of your premium tax credit in advance to lower your monthly premium. If you use more advance payments of the tax credit than you qualify for based on your final yearly income, you must repay the difference when you file your federal income tax return. If you use less premium tax credit than you qualify for, you’ll get the difference as a refundable credit when you file your taxes. You can buy health insurance through other sources, but the only way to get a premium tax credit is through the Health Insurance Marketplace.




Quote:
Originally Posted by NewbieHere View Post
Obamacare offers subsidy base on income. Tax credit from Ryan/Trumpcare base on age.
Yes, the plans have different qualifications to receive the tax credit. I have no idea where you came up with the idea that makes one a tax credit and the other not a tax credit. They are both reconciled with your fed income tax.

Also = Ryan plan is based on age and income.
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Old 03-10-2017, 08:01 PM
 
3,717 posts, read 2,202,867 times
Reputation: 4169
Quote:
Originally Posted by NewbieHere View Post
No, I did it myself, I didn't put her as my dependent because she was on her own. Nobody helped me so it was not anyone's mistake. It was the software.
Well people write the software. Our states site is horrible and it hasn't changed at all since inception.
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Old 03-10-2017, 08:17 PM
 
Location: SoCal
13,252 posts, read 6,351,451 times
Reputation: 9873
The subsidy I was referring to is lower deductibles and lower copayment for some low income marketplace enrollees under ACA.
This link provides a better explanation between the two health plans.
Tax Credits under the Affordable Care Act vs. the American Health Care Act: An Interactive Map | The Henry J. Kaiser Family Foundation
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Old 03-10-2017, 08:30 PM
 
Location: Cushing OK
14,547 posts, read 17,559,867 times
Reputation: 16777
Quote:
Originally Posted by Heather72754 View Post
Yeah, that's a pretty BIG difference. What good is a 'tax credit' if you can't afford to pay for the insurance for the year to begin with? It's ridiculous.
Exactly. And they don't support expanded Medicade either. My state was one which didn't expand Medicade. My check went up to high by a few dollars to get medicade (or any other federal/state aide) and I just hoped nothing bad happened. I currently have an ACA plan and it isn't over costly at 20 a month.

If people start suffering may all the bad karma lay on Trump and his gang's little heads. And in a few months will go on medicare. But I know a LOT of people who could lose big in the health department. As someone else said in this tread, what good are tax 'credits' when you don't owe any tax? Do they assume your hiding all that money under your pillow?

May all the bad karma Trump the orange and his little pack of vultures deserve come to them.
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Old 03-10-2017, 08:40 PM
 
Location: SoCal
13,252 posts, read 6,351,451 times
Reputation: 9873
Quote:
Originally Posted by nightbird47 View Post
Exactly. And they don't support expanded Medicade either. My state was one which didn't expand Medicade. My check went up to high by a few dollars to get medicade (or any other federal/state aide) and I just hoped nothing bad happened. I currently have an ACA plan and it isn't over costly at 20 a month.

If people start suffering may all the bad karma lay on Trump and his gang's little heads. And in a few months will go on medicare. But I know a LOT of people who could lose big in the health department. As someone else said in this tread, what good are tax 'credits' when you don't owe any tax?Do they assume your hiding all that money under your pillow?

May all the bad karma Trump the orange and his little pack of vultures deserve come to them.
This link says you get tax credit regardless of income, that means zero income. You pay zero tax with zero income.

How will new GOP tax credits compare with health insurance premiums? | PBS NewsHour

From July Rovner: They are tax credits available to people who even dont owe any taxes
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Old 03-10-2017, 10:40 PM
 
Location: Central Illinois -
21,586 posts, read 14,377,430 times
Reputation: 14717
Quote:
Originally Posted by NewbieHere View Post
Ron Williams Former CEO of Aetna is on TV and said it's the right replacement plan to replace ACA. Good to hear.
That's one hell of a source.

I'll stick with AARP and The AMA who have publicly stated that it is a pile of dog crap. I can't believe people are saying good things about it, but we are a nation of poorly educated people, so I shouldn't be surprised.
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