What are Retiree Options for Marketplace Assistance?

I recently retired (age59) and thought I was going to lose my insurance benefits. I signed up for the affordable care act and because of my low income I qualified for Medicaid.

However I found out that My current insurance is affordable for me and want to keep it. I don’t want to be in trouble for being doubled insured. Can I be insured by both?


Answer

You won't be eligible for Medicaid or Marketplace cost assistance if you are covered under a retiree health plan. Here are the rules if you have retiree coverage:

  • You can’t get premium tax credits and other savings based on your income. This is true only if you’re actually enrolled in retiree coverage. If you’re eligible for but not enrolled in retiree coverage, you may qualify for premium tax credits and lower out-of-pocket costs based on your household size and income.
  • If you voluntarily drop your retiree coverage, you won’t qualify for a Special Enrollment Period to enroll in a new Marketplace plan. You won’t be able to enroll in health coverage through the Marketplace until the next Open Enrollment period.

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Leslie Wade on

I currently am enrolled in a retiree plan which requires me to pay 100% of the premium with no employer contribution. I am considering enrolling during the open enrollment period. Can I remain enrolled in my retiree plan until my marketplace plan goes into effect or must I cancel my current plan before enrollment?

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