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Originally Posted by Michael 61
Moving in a few weeks to my new home in TV from another state. I am under 65, so too young to qualify for Medicare. My earnings last year exceeded the cap for Obamacare. I will need to get insurance through the Florida exchange. Is this something I should try to navigate on my own through Florida’s healthcare website, or are their brokers I could go to help me choose a plan. I don’t even have a doctor yet in Florida, and need to make sure that the eventual plan I get will be honored by my primary care provider as well as a few specialists (dermatologist and cardiologist) I will see a few times a year.
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Obamacare eligibility is based upon next year's projected income. Thus looking for insurance for 2023 you project your income for 2023. The risk is if you go over your projection you will owe a penalty. The benefit is based upon "earned income". You should read the definition of earned income in the Obamacare rules. There are ways to limit your next year's income. For example if you are planning on drawing from a retirement account next year consider drawing it out this year. Compare Obamacare benefit to what extra tax will be this year Vs next year which you are going to pay on it anyways but perhaps in a different tax bracket.