ObamaCare Questions and Answers

For 2023 coverage, those making between $13,590-$54,360 as an individual, or $27,750- $111,000 as a family of 4, qualify for ObamaCare.

Long and short term capital gains taxes impact taxable income in terms of what is counted for marketplace cost assistance.

You are looking for a 1095 form. If you got marketplace insurance, your 1095-A form (Health Insurance Marketplace Statement) is mailed to the IRS from the marketplace and can be accessed via your HealthCare.Gov account or your state-based marketplace.

For 2021 coverage, those making between $12,760-$51,040 as an individual, or $26,200-$104,800 as a family of 4, qualify for ObamaCare. For 2022, those making between $12,880 – $51,520 as an individual, or $26,500 – $106,000 as a family of 4, qualify.

Original Medicare and Medicare Advantage both cover FDA-approved coronavirus tests and vaccines at no out-of-pocket costs.

Does my dependent need to get their own ObamaCare plan if I am on Medicare?

As a rule of thumb, you cannot cover a divorced spouse under your health plan. However, there are some situations that provide a sort of exception to this rule.

There is no insurance that all doctors take. With that in mind, Obamacare isn’t insurance, it is just law that expands insurance. With ObamaCare, you choose a plan on the Marketplace and then get assistance or qualify for Medicaid based on income.

There are no asset limits for Marketplace assistance under ObamaCare. Cost assistance for tax credits, out-of-pocket assistance, and Medicaid are all based on income only and not assets.

Medicaid eligibility depends on income and family size, not hours worked. Further, you can apply regardless of your income, you’ll just be rejected or pointed at the marketplace if you make too much to qualify.

You can only enroll in health insurance under the Affordable Care Act (ObamaCare) during Open Enrollment (Nov 1 – Dec 15 each year) unless you qualify for Special Enrollment.

If you made less than 100% FPL but got an advance premium tax credit (APT), the 8962 instructions explain what to do.

Despite efforts to dismantle ObamaCare, and despite changes to the law, Trump didn’t actually repeal or repeal and replace ObamaCare.

If you are clocking out for lunch and not working during lunch, then those hours can be deducted from your total hours for the purposes of determining Full-Time status.

Despite attempts at repeal and a lawsuit that may jeopardize the future of the ACA, ObamaCare is still active and most provisions are in place.

In most cases your 1095-A will be mailed to you and the IRS, and you won’t have to request or submit the form. However, since you need your 1095-A for 8962 tax credit forms, it’s good to know you can download your form using HealthCare.gov (or your state website).

If you lost your employer health coverage you qualify for Special Enrollment in the marketplace when your employer plan ends.

The coronavirus stimulus check included in the CAREs act is not counted as taxable income and therefore will not count toward your income limits for assistance. This means it won’t impact Obamacare subsidies including tax credits, out-of-pocket assistance, or Medicaid/CHIP.

ObamaCare covers coronavirus. All marketplace plans cover FDA-approved coronavirus tests and vaccines with no out-of-pocket costs. The same is true for Medicaid/CHIP as well.

Yes. The rule for not getting marketplace coverage when you have employer coverage is based on having access to employer coverage. So, until you can actually enroll in an employer plan, you can use the marketplace and will qualify for cost assistance based on income.

In general, if you have been enrolled in health insurance for at least one day and then lose coverage for due to losing full-time status or due to termination, you qualify for COBRA. This is true even if you elect to go from full-time to part-time or are fired.

Open enrollment is a general term for health insurance that describes the period in which you can sign up for a plan without qualifying for a special enrollment period.

Medicare for all describes a general concept of a single payer healthcare system. Right now the US has a multi-payer healthcare system, that means people pay different insurance companies but have a choice in healthcare providers. With single payer, there is one insurer, but you keep the choice in providers. Also, as the “for-all” part implies, every citizen would have access to Medicare-for-all.

The national average of the lowest cost plan under ObamaCare before cost assistance in 2020 is $331 for Bronze, $442 for Silver, and $501 for Gold.

For 2020 coverage, those making between $12,490-$49,960 as an individual, or $25,750-$103,000 as a family of 4, qualify for ObamaCare. For 2021, those making between $12,760-$51,040 as an individual, or $26,200-$104,800 as a family of 4, qualify.