What If Income Is Just Under ObamaCare Threshold?


We have reported that our joint income will be 25,000 for this tax year. If our income falls slightly below this amount, will we still be eligible for Obama Care or would this negatively affect us? I understand that the limit to be eligible is 12500 per person..

Insurance for Studying Abroad Under ObamaCare


Under ObamaCare when studying abroad you can get a PPO with coverage outside of the US, a student health plan, an employer plan, or some foreign insurance to avoid the fee, travelers insurance won’t avoid the fee.

How Do I Get Coverage For a Specific Drug?


If you need a specific drug you should contact insurers that sell plans in your region and find out what plans sold on the Marketplace cover it.

Are There Copayment Restrictions Under ObamaCare?


There aren’t copayment restrictions, but plans must offer an actuarial value of at least 60%, which means they must pay on average 60% of all costs of all people on the plan.

Can I Count Monthly MAGI For ObamaCare?


Marketplace cost assistance is based on annual MAGI, but Medicaid can use monthly MAGI. This means lump-sum income can throw off cost assistance for the year.

Can I Switch Plans More Than Once in a Year?


You can switch health plans via ObamaCare’s special enrollment every time you have a qualifying life event, even if it’s the same event more than once.

Is There a Microchip Coverup With ObamaCare?


There is no microchip coverup or conspiracy in ObamaCare. ObamaCare is a law focused on helping Americans by improving healthcare and health insurance.

What Can I Use My HSA For?


You can use your Health Savings Account (HSA) for out-of-pocket medical costs, including dental and vision and dental and vision premiums.

Can I Switch Plans Outside of Open Enrollment?


You can’t switch plans outside of open enrollment unless you have a qualifying life event that qualifies you for special enrollment.

Missionaries and ObamaCare


Missionaries living outside of the US for more than 330 days in a 12 month period are not required to get coverage but can get coverage.

Funding Retirement Account & Savers Credit


Funding a 401(k) lowers MAGI, but funding a Roth IRA doesn’t due to how it’s taxed. Anything that affects MAGI can affect ObamaCare’s tax credit amounts.

Do Retirement Account Withdrawals Affect ObamaCare?


Taxable retirement account withdrawals count toward MAGI income for ObamaCare tax credits, but pre-taxed withdrawals and early withdrawal penalties don’t.

What to Do When Losing Coverage and Income?


If you are employed for part of the year, then lose employment you should enroll through special enrollment, or Medicaid, or you may owe the fee.

How Do I Avoid Gap in Coverage When Moving?


When you move to a new state you can enroll up to 30 days before the actual move so your new coverage starts on or close to the date the old coverage ends. This helps avoid a gap in coverage.

What Paper Stock Should 1095-C Be Printed On?


We haven’t found any information pertaining to what paper stock 1095-C’s should be printed on on the IRS site or the instructions for Forms 1094-C and 1095-C.

How to Count Terminated Employees and Re-Hires for the Mandate?


There are a number of measurement periods an employer can use and methods of accrediting hours that allow employers to deal with termination, new hires, and re-hires. This allows employers to accurately address full-time and FTE employees in a number of common and uncommon situations.

Do I Need to Leave ObamaCare If I Get a Job?


If you get a job that offers health insurance you will become ineligible for cost assistance once that coverage starts, thus you should drop the ObamaCare plan as close to your new coverage start date as possible avoiding owing back tax credits and a gap in coverage.

Should I Get ObamaCare If I’m Going to Move out of Country?


You’ll need to have coverage or pay the fee for every year you live in the US more than 330 days and pay taxes. There are exemptions for being out of the country, so you should get coverage until you move.

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