2014 ACA Enrollment Tips (Agents Helping Agents)

[Jofainc]

For one response. Likewise one of my clients entered the hourly wage and works 40 hours a week. The system calculated 30 hours per week and she and her daughters were ineligible for a subsidy nor in Georgia Medicaid. I had her cancel and reenter the total income.
For another, I enrolled my 22 year old step-son as an adult and his premium was $187 for the chosen plan but the subsidy was $167 so monthly cost was $20.
Crazy times.
What are others finding on the increasing news asking brokers to use the carrier website to enroll - or are any setting up their own access?

----------

Yes, they are eligible and if granted the employer is fined $3,000.

----------

Wow, nice. Many thanks for the "Walk Through".

----------

After 37 years selling group health, now trying for fast learning curve. Can we assist the client via telephone rather than in person? How is this best done if possible?
Thanks to all.

 

[aheff]

My understanding is:

If it is a public program like Social Security Disability Income (SSDI), then it is taxable.

If it is private insurance that you purchased with after tax dollars then no it is not taxable.

If it is private insurance that you purchased with pre tax dollars or that your Employer paid the premium for, then yes it is taxable.

Ann, you are correct on the taxation of disability policies. It is my understanding for purposes of subsidy/ACA that ALL disability income received is considered income.

 

[HelpingPeople]

I had a person from off shore and with Kaiser estimated a $271 annual tax credit. Married with two kids @$81k income. I showed him a plan off the market for over $300 less (comparable) and he still wanted to push through to get the tax credit. He was going to sleep on it and get back with me.

 

[kgmom219]

With regards to the Disability question. I learned this one the hard way, via a 90 minute call with the IRS.

THEY HAVEN'T DECIDED.

Yes, you should enter SSI.

Private disability is undecided at this time. If you want to include it (to keep your client off Medicaid), do so. If you don't want to include it, you are not obligated to do so. At this time. Its on the list of things the IRS needs to decide.

As far as if private disability is taxable, that's policy specific and determined by how the policy is paid (with pre or post tax income).

 

[HelpingPeople]

For one response. Likewise one of my clients entered the hourly wage and works 40 hours a week. The system calculated 30 hours per week and she and her daughters were ineligible for a subsidy nor in Georgia Medicaid. I had her cancel and reenter the total income.
For another, I enrolled my 22 year old step-son as an adult and his premium was $187 for the chosen plan but the subsidy was $167 so monthly cost was $20.
Crazy times.
What are others finding on the increasing news asking brokers to use the carrier website to enroll - or are any setting up their own access?

----------

Yes, they are eligible and if granted the employer is fined $3,000.

----------

Wow, nice. Many thanks for the "Walk Through".

----------

After 37 years selling group health, now trying for fast learning curve. Can we assist the client via telephone rather than in person? How is this best done if possible?
Thanks to all.

There is a program called join.me .... Put this in your browser address bar and download the free program (do not put www in front of it and do not put .com after.... jsut ... join.me). Your client should do the same. They should select "share meeting" and give you the 8 digit number. Then you will be able to see their computer screen Then you can talk them through it on the phone.

 

[bluediamond]

With regards to the Disability question. I learned this one the hard way, via a 90 minute call with the IRS.

THEY HAVEN'T DECIDED.

Yes, you should enter SSI.

Private disability is undecided at this time. If you want to include it (to keep your client off Medicaid), do so. If you don't want to include it, you are not obligated to do so. At this time. Its on the list of things the IRS needs to decide.

As far as if private disability is taxable, that's policy specific and determined by how the policy is paid (with pre or post tax income).

Can't find the reference sheet at the moment but SSI does not count but SSDI does.

 

[SamIam]

I thought SSI counts.

 

[AllenChicago]

I thought SSI counts.

Under the Social Security Income section of the subsidy application at healthcare.gov it states that Supplemental Security Income (SSI) should not be counted as income.

Also, for further substantiation, see Q&A #7 at the official IRS webpage:
Link: Questions and Answers on the Premium Tax Credit

-ac

 

[bluediamond]

Under the Social Security Income section of the subsidy application at healthcare.gov it states that Supplemental Security Income (SSI) should not be counted as income.

Also, for further substantiation, see Q&A #7 at the official IRS webpage:
Link: Questions and Answers on the Premium Tax Credit

-ac

Thanks for finding that for me Allen, I just could not remember where I saw it and I probably have it saved on my computer with hundred's of other's.

 

[Ann H]

Ann, you are correct on the taxation of disability policies. It is my understanding for purposes of subsidy/ACA that ALL disability income received is considered income.

For purposes of the subsidy, Modified Adjusted Gross Income is used, which is AGI (line 37 of the Federal Form 1040 tax return) plus foreign income, tax-expempt interest and the non-taxed portion of social security benefits.

Since the types of disability benefits that are non-taxable are not included in AGI, then they are not included in MAGI.