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BTW, the new plan is HMO instead of PPO (happily, my doctors and drugs are included in both), Anthem now will only pay 70% of hospitalization up to the maximum individual payment, 100% after (which is $100/year more in the new plan, a figure that I'll hit on drug payments alone), and there are various small charges which won't matter in the end because of that maximum individual payment clause.
In BCBS of GA it appears PPO and POS have gone away.
a hypothetical question for @msf: If someone had a $10 million nest egg invested totally in tax-free munis...no other income...would he/she qualify for and O'care subsidy?
a hypothetical question for @msf: If someone had a $10 million nest egg invested totally in tax-free munis...no other income...would he/she qualify for and O'care subsidy?
But you could have 10 million in retirement accounts and or home value or diamond rings and you could get a subsidy if your MAGI is low enough.
If you have $10M in traditional retirement accounts, you won't qualify because of RMDs. But if you have $10M in a non-interest bearing checking account, you will qualify. Cash, like the real estate and tangible assets Dan Hardy mentioned, also doesn't hamper ACA subsidies, or for that matter cause SS benefits to be taxed.
The only situation I'm aware of where one takes assets (as opposed to income) into account is in taxing estates (or inheritances in some states). That seems to be the only opportunity to recapture some of the subsidies given to that the person with $10M under the mattress. Though New Jersey, which taxes both the estate before distributing to heirs, and the money the heirs inherit, seems to be overdoing it a bit.
little5bee said: a hypothetical question for @msf: If someone had a $10 million nest egg invested totally in tax-free munis...no other income...would he/she qualify for and O'care subsidy?
With a 10 million nest egg you could sit back with a cocktail and never have to worry about what you pay for health care premiums...
Comments
http://www.breitbart.com/big-government/2015/11/03/ben-carson-responds-obama-taunt-cnbc-debate-obama-afraid-go-fox/
Carson is touched, for sure.
Step 1. Start with your household’s adjusted gross income (AGI) from your most recent federal income tax return.
Step 2. Add the following kinds of income, if you have any, to your AGI:
Tax-exempt foreign income
Tax-exempt Social Security benefits (including tier 1 railroad retirement benefits)
Tax-exempt interest
Don’t include Supplemental Security Income (SSI).
etc.
If you have $10M in traditional retirement accounts, you won't qualify because of RMDs. But if you have $10M in a non-interest bearing checking account, you will qualify. Cash, like the real estate and tangible assets Dan Hardy mentioned, also doesn't hamper ACA subsidies, or for that matter cause SS benefits to be taxed.
The only situation I'm aware of where one takes assets (as opposed to income) into account is in taxing estates (or inheritances in some states). That seems to be the only opportunity to recapture some of the subsidies given to that the person with $10M under the mattress. Though New Jersey, which taxes both the estate before distributing to heirs, and the money the heirs inherit, seems to be overdoing it a bit.