Quote:
Originally Posted by Abby10
Yes. Basically, Cathy and Steve, it boils down to what your adjusted gross income is on your yearly tax return - line 37, to be exact. The subsidy is tiered depending on your adjusted gross income, but it must be $62,000 or less to be eligible for any subsidy. You can still buy insurance through the marketplace above that income, but it will not be subsidized - you pay full premium. That's what we were initially considering because buying insurance through the marketplace would have been cheaper than Cobra or going it on our own. Good luck with your search.......let's keep sharing info and knowledge!
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Abby, not exactly true. Your eligibility is based on your household income, not your "taxable adjusted gross income" Line 37 does not include items that must be reported in determining eligibility. Simplest example is tax-free income. Social security income is included in the calculation. All family member's income must be reported not just the person applying for coverage. Thus if there is a person 65 on Medicare and a spouse 62 applying via the ACA, and a 30 year old living in the home who is your dependent , the income of all 3 persons must be reported. It does not matter if you file taxes jointly or not.
This is all household income.
Here are two sites that will give a better explanation
https://www.healthcare.gov/income-an...mation/income/
http://laborcenter.berkeley.edu/pdf/..._summary13.pdf