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Change in ACA subsidy

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  • ENT Doc
    replied
    Originally posted by Dusn View Post

    Do some people have trouble getting coverage on the plans? There’s a huge number of plans available from every major insurance company. My mother in law had health insurance off the exchange several years ago and had no trouble with coverage anywhere despite many medical problems. I’m guessing this can vary by state and by plan though.
    I definitely see issues in my area.

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  • Dusn
    replied
    Originally posted by ENT Doc View Post
    Getting an exchange plan coverage is one thing. Getting it accepted at hospitals/clinics is another.
    Do some people have trouble getting coverage on the plans? There’s a huge number of plans available from every major insurance company. My mother in law had health insurance off the exchange several years ago and had no trouble with coverage anywhere despite many medical problems. I’m guessing this can vary by state and by plan though.

    Leave a comment:


  • ENT Doc
    replied
    Getting an exchange plan coverage is one thing. Getting it accepted at hospitals/clinics is another.

    Leave a comment:


  • burritos
    replied
    Originally posted by Turf Doc View Post
    Sorry, you're right, couldn't help myself. Edited my post so there will be a more fruitful conversation about this change. A very relevant change for any physicians who buy their insurance on the markets and has huge implications for fatFIRErs
    I don't understand, why? Cause you can't deduct anything till it's over 8.5% of your income. Or am I misinterpreting the situation?

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  • Dusn
    replied
    We’ve found it very difficult over the past few years to find nannies that are willing to let us report their income to the IRS, and the reason has always been something about it making their family income too high to keep their healthcare coverage... hopefully this will change that.

    Leave a comment:


  • Turf Doc
    replied
    Sorry, you're right, couldn't help myself. Edited my post so there will be a more fruitful conversation about this change. A very relevant change for any physicians who buy their insurance on the markets and has huge implications for fatFIRErs

    Leave a comment:


  • Lithium
    replied
    The expected contribution for everyone is going down, and yes, taxpayers will pick up the tab for the subsidies.

    anyway, I’m hoping that on this thread we’ll mainly talk about the financial ramifications. I’m not bothered by discussions of politics and policy but that is probably just a recipe for getting this locked before reaching page 2.

    Leave a comment:


  • Turf Doc
    replied
    This is huge and it's interesting that it's not being talked about that much.

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  • Lithium
    started a topic Change in ACA subsidy

    Change in ACA subsidy

    Bogleheads are discussing this here:
    https://www.bogleheads.org/forum/vie...ewpost=5877976

    quick summary as I understand: expected contribution to purchase of ACA plans is now no more than 8.5% of income and the cliff of 400% FPL is gone as a result of the new law this week.

    I just looked up the cost of the SLCSP in my area and it’s $441 a month. I’d still have to get my MAGI down to ~$62.2k to qualify for just a tiny subsidy. So this probably won’t be a game changer for me any time soon.

    I’m curious if anyone else is running these numbers yet. Politically even though it has only been enacted for the next two years it seems inconceivable that it will be rolled back in 2023.
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