I’m 64, resident of Al. Currently have coverage thru husband’s employer. My husband will retire in May and be on Medicare. I need coverage May-Sept when I get Medicare. Will I qualify for subsidy based on MY current year income of $9600. Or will it be based on our JOINT income this year of $140,000 even tho husband will NOT be applying since he will have Medicare?
How can I find out what my premium would be for me alone and whether I would get subsidy WITHOUT going through entire application? I’m trying to see whether Obamacare or Cobra would be less expensive
Marketplace subsidies are based on household income, even if one spouse qualifies for non-Marketplace coverage like Medicare. That being said, subsidies are based on projected household income for the next year, although they typically use last years income to estimate next years. Since your husband will retire this could drop your actual household income and thus qualify you for cost assistance. You'll be able to take advantage of special enrollment, starting at least 30 days before you lose your current coverage, to enroll in a plan that starts when you lose your current coverage.
In your case COBRA will be more expensive if you get subsidies, if you don't then it's a toss up depending upon what COBRA offers and the plans in your region. Typically holding a policy for a limited time isn't good for much beyond catastrophic coverage, benefits covered by copays, and avoiding the fee.