Who is Eligible for ObamaCare?

Anyone living in the United States who is a citizen or legal resident, and who is not incarcerated, is eligible for ObamaCare’s cost assistance based on income if they make between 100% – 400% of the Federal Poverty Level.

What is the Minimum Income for ObamaCare?

The minimum income for ObamaCare is 100% of the federal poverty level. The dollar amount of this changes every year, but for 2020 it is $12,490 for an individual and $25,750 for a family of four.

Can I Get ObamaCare at Anytime?

Under the Affordable Care Act (ObamaCare) you can only get coverage that qualifies for cost assistance and offers all of ObamaCare’s benefits during each year’s open enrollment peroid.

Is ObamaCare Still in Effect for 2020?

The Affordable Care is still in effect for 2020 and beyond, although there are some changes. In short, Americans no longer have to pay a fee for not having coverage, but they can still get cost assistance.

Will Obamacare Subsidies End?

ObamaCare subsidies are part of the current law and will not end unless the Affordable Care Act (ObamaCare) is repealed. That means you can still get subsidies in 2020 and beyond.

Impact of Lump Sum on Obamacare Premium Credit Eligibility

The year(s) you claim your taxable lump-sum payment in is the year(s) it will impact marketplace cost assistance. If you know you will claim only part of the lump sum as taxable this year, then that is the only part of the payment you need to account for when figuring out cost assistance.

Are Assets Counted for ObamaCare Subsidies?

Assets are not counted for cost assistance subsidies on marketplace plans under the Affordable Care Act (ObamaCare). Only income is counted for premium tax credits and cost sharing reduction subsidies. 

Do I Need a 1095 For Medicaid, CHIP, or Medicare?

If you had Medicaid, CHIP, or Medicare you should get a 1095-B sent Form 1095-B. A 1095-B can help you complete your taxes, for example if you had marketplace coverage for part of the year and need to file a 8962 form for tax credits.

I Cancelled the Wrong Health Plan, What Can I Do?

If you cancel a plan by mistake, the best thing to do is to quickly appeal. In many cases appealing a health insurance decision or marketplace decision will lead to a resolution in favor of the customer.

Does Inheritance Affect Marketplace Assistance?

In general, inheritance does not affect Premium Tax Credits or Cost Sharing Reduction assistance because inheritance is not taxable on the federal level and not considered income for federal tax purposes.

Impact of Using Traditional IRA $ To Set Up HSA & HSA Plan

I read the “How IRA’s and HSAs work with the ACA” section of this website but I’m still not clear on this: Is the one time allowable use of traditional IRA funds to set up a HSA (which I would use to buy an HSA eligible Obamacare plan) counted toward my MAGI? Also… is this… Read More

Can HealthCare.Gov Enroll someone in Medicaid?

HealthCare.Gov (or your state marketplace) can enroll you in Medicaid if you qualify and you give them the necessarily information. You can also enroll directly with your state Medicaid agency.

Is There Assistance For Death Benefits?

There are no universal death benefits to help survivors. Aside from things like the Social Security Lump Sum Death Payment, this type of insurance is private.

Obama Care and Trump Care Legal Issues

To the question: “are there legal issues with switching from what is known as ObamaCare to what is known as TrumpCare?” The answer is potentially yes.

How Much Does ObamaCare Raise Taxes?

There is no perfect answer to how much ObamaCare raises taxes, because it differs by income. Most Americans will mainly only face the fee for not having coverage.

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