I am trying to work out if the ACA can help with my expenses.
Currently I have insurance for my whole family through my employer. The employer pays 100% of only my premium; I pay the remainder for the spouse + kids. Employer healthcare renews at the end of June.
According to the marketplace calculator here https://www.kff.org/interactive/subsidy-calculator if I select "no" to employer coverage (because while they cover 100% for me, the cost for family is above 8.39% of household income (depending on how that is calculated) - then I am eligible for a pretty significant subsidy.
Am I missing something? How can I confirm this? Apparently, the renewal times do NOT line up, and I would (I guess?) either have to try to cancel my family (but not my) plan in November and apply for an ACA plan? Go without insurance for a few months? According to healthcare.gov it says "Voluntarily giving up coverage or losing it because you didn't pay your premium doesn't count" - but if my current plan is 19% of HHI is that applicable?
Currently I have insurance for my whole family through my employer. The employer pays 100% of only my premium; I pay the remainder for the spouse + kids. Employer healthcare renews at the end of June.
According to the marketplace calculator here https://www.kff.org/interactive/subsidy-calculator if I select "no" to employer coverage (because while they cover 100% for me, the cost for family is above 8.39% of household income (depending on how that is calculated) - then I am eligible for a pretty significant subsidy.
Am I missing something? How can I confirm this? Apparently, the renewal times do NOT line up, and I would (I guess?) either have to try to cancel my family (but not my) plan in November and apply for an ACA plan? Go without insurance for a few months? According to healthcare.gov it says "Voluntarily giving up coverage or losing it because you didn't pay your premium doesn't count" - but if my current plan is 19% of HHI is that applicable?
Statistics: Posted by bombcar — Tue Jun 04, 2024 4:07 pm — Replies 7 — Views 261