If you are a music artist who is uninsured can you qualify for Obamacare exchanges if you have a million dollar income?


If you have an income above 400% of the Federal Poverty Level then you can't get cost assistance, but can buy a plan on ObamaCare's Marketplace.  The Health Insurance Marketplace is open to anyone who wants to and can legally buy a private health insurance plan. However, only those with incomes between 100% - 400% of the poverty level and who don't have access to employer coverage, Medicaid, or Medicare can claim cost assistance. Cost assistance is claimed on form 8962 at the end of the year, although it can be claimed in advance as well if you can prove that you'll reasonably make between 100% - 400% of the poverty level.

Secondary Joke Answer for Fun: The only exception to this rule is if you are Taylor Swift, in this case Spotify and Apple Music have agreed to subsidize your health insurance because they talked it out and both agree that it's gotta be like crazy hard to be one of the most famous artists in America but only get paid like the 1% and not the .0001%. Who went and made the internet free? What ever happened to the $20 CD? Where is Lars Ulrich when we need him? You realize that the average person is expected to pay up to 9.5% of their income in health insurance alone. Never mind student loans, mortgages, credit card debt, families, etc, etc... No, someone who can miraculously make a million dollars off a  music career in 2015 doesn't get cost assistance, but they just may deserve a metal.

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Gary Edwin on

“Income” and “Net Worth” are totally different issues , also part of the big lie . People may be worth millions , divert earnings and “reinvest” . They then show lowered “income” and receive Obamamillionairesubsidies that are paid for by people who actually earn far less .

Penny on

We went to sign up for Obama care for 2015 and we will given a choice of a monthly premium now we have to pay back all the advance premium because we were above the 400% income bracket but we’re not told this when we signed up now what we went into 2016 also, not sure how we will be able to pay back all that money for 2015 we are looking at 16000 plus interest and penalties

Virinder K Seth on

Very good answer, but it answers only part of the question. I understand that if your income over 401% you do not get any assistance. Does that mean that whatever amounts are shown in Column C of Form 1095A will be shown on line 46 of Form 1040? Then, what happens to the monthly premiums I also have been paying? Will I not get credit for those premiums on 1040. Thanks