Coverage Requirements for New Citizen Traveling?

All US citizens, who qualify based on income, must obtain coverage or an exemption. For someone traveling back and forth between the U.S. they can be exempt for spending 330 consecutive days in the year outside the US.

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..

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.

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…

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…

Obamacare for Millionaires?

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.

ObamaCare Compliance for Foreign Residents?

If you are a US citizen you can get covered using ObamaCare’s health insurance exchange when you move to the US and cancel your plan when you leave. You’ll simply use special enrollment to enroll.