Is ObamaCare a Handout?
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ObamaCare is a law, the law contains cost assistance based on income and tax filing status. Whether this is a handout depends upon your definition of handout.
Does a Tax Extension Apply to Filing for ObamaCare Taxes?
If you file a tax extension with form Form 4868 the extension applies to all ACA related tax forms including Form 8962 for tax credits and Form 8965 for exemptions.
Scott Walker’s Plan to Repeal & Replace ObamaCare
We explain Scott Walker’s plan to repeal and replace ObamaCare. We compare it to the ACA and examine what it gets right and wrong.
Health Plan Options for College Students
College students have a number of health plan options including the Marketplace, Medicaid, school health plans, catastrophic plans, and their parents plan. Below we take a look at student health options under the Affordable Care Act (ObamaCare). FACT: A university health plan counts as Minimum Essential Coverage for ObamaCare if it’s fully insured or self insured. Aside… Read More
Household Size and Income, Coverage and Tax Family
How to Understand Household Income, Family Size, Tax Family, and Coverage Family for ObamaCare Cost Assistance For ObamaCare, your “household” is your “tax family” (head of household, spouse, and tax dependents). Cost assistance is based on household income and size, the people who share a plan are called a “coverage family.” With this in mind, Household… Read More
How Before-Tax and After-Tax Contributions Affect Subsides
How IRA’s and HSAs work with the ACA Before-tax and tax deductible contributions (like to a traditional IRA) lower MAGI and increase subsidies. After-tax contributions lower MAGI on withdrawal (like the Roth IRA). HSA’s are tax free in and tax free out, which make them especially cool. This is generally true for ObamaCare’s tax credits… Read More
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.
More ObamaCare Fines Paid Than Expected, But Most Got Refund
710,000 who got subsidies through ObamaCare have yet to file tax returns, while 9% (7.5 million) who did file paid $1.5 billion in penalties (although many qualified for additional exemptions).
What Happens If I Overestimate Income for Tax Credits?
If you estimated your income to qualify for subsidies, but didn’t make enough, you don’t owe back any money and can keep the tax credits you got in advance.
Health Insurance Companies Merge After SCOTUS Ruling
Just days after the Supreme Court Declared subsidies legal many major health insurance companies declared mergers. Mergers include Aetna (AET) buying Humana (HUM) for $230 a share, 23% higher then Market price the day before the announcement.
How Does Life Insurance Income Affect ObamaCare?
Death benefits received from life insurance are typically non-taxable and thus won’t impact the household MAGI ObamaCare’s subsidies are based on.
If Employer Plan Is Unaffordable Do I Qualify For ObamaCare?
If an employer plan would cost more than 9.5% of household MAGI for self only coverage, after employer contribution, then it qualifies you for ACA coverage.
Fee For Reimbursing Employees for Individual Health Plans
Employers who reimburse employees for individual non-group health plans face a $100 a day or $36,500 per year, per employee excise tax. This rule applies to all employers, but the fine itself is only levied on those who have to comply with ObamaCare’s mandate (firms with 50 or more full-time equivalent employees).
Tobacco Surcharge On Employer Coverage?
Under the ACA you can be charged a tobacco surcharge for smoking of up to 50% of your premium after subsidies, regardless of where you get coverage. Typically won’t be charged the full amount and some insurers may not charge anything at all.
Marry the Person You Love and Get a Family Plan You Can Afford
The Supreme Court has been busy making America awesome, not only did they uphold subsidies they also declared same-sex couples have a right to marriage. Generally almost all of their recent decisions have fought back against discrimination, repression of freedom speech, repression of freedom of religion, and repression of individual liberty. It hasn’t seemed to matter… Read More
What Happens if ObamaCare is Repealed?
Repealing ObamaCare would increase the federal deficit by at least $137 billion over ten years and increase the number of uninsured by 19 million by 2016.
Do I Have to Switch to Employer Health Insurance From ObamaCare?
If you have access to an employer health plan you can’t get ObamaCare’s subsidies, you can keep the plan without subsidies or switch to an employer plan.
ObamaCare Subsidy Ruling Expected in June
A Supreme Court ruling on King V Burwell (the lawsuit challenging the legality of subsidies offered through HealthCare.Gov) is expected in June of 2015.
ObamaCare June 2015 Overview
Everything you need to know about ObamaCare for June 2015 including Hawaii’s exchange, a subsidy lawsuit, Florida and Medicaid, and other healthcare news (plus multiple instances of the word “boondoggle”).
Obamacare Rate Hikes 2016
Insurers are planning rate hikes for 2016 under ObamaCare. ObamaCare being both the reason we know about it, and part of the reason it’s happening.
ObamaCare Doesn’t Care – Story
This site is full of facts about ObamaCare. Facts based upon the theory of what ObamaCare would bring. I doubt that this will be published, but I am a REAL ObamaCare user. I received a significant benefit in subsidies by using the marketplace. Due to significant health problems and lack of income I pay a… Read More
The Guy From South Carolina Who Didn’t Get ObamaCare
Last week a story went viral about a guy in South Carolina who didn’t get ObamaCare and ended up needing it.
The Distant Future of June 5th 2015
Far in the distance, a long time from now, on June 5th 2015 the GOP will be expected to have a solution in place for the potential repeal of ACA subsidies. What is that you say? “June 5th isn’t the distant future, it’s actually less than a month away?… And the GOP have no solid agreed upon… Read More
Study Shows ER Visits Up Under ACA
A study shows that ER visits have increased as more people have gotten coverage under the Affordable Care Act. This expected short term outcome isn’t ideal, but speaks to habits of the previously uninsured, the fact that ER visits are covered under the ACA, and an increased doc shortage as demand outpaces supply in the short term.
ObamaCare Ransom Demands – Subsidy Extension for the Mandates
If the Supreme Court rules against ObamaCare’s subsides the GOP has offered to allow subsidies to continue until 2016, in exchange for gutting the mandates. This isn’t the only proposal we have seen from the GOP in this regard, but is instead it is the common theme behind a number of different GOP based ideas…. Read More