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- #11
Mrs.A.Mann
Expert
She will be still subjected to the penalty. $1,875.00 What's the point of paying the penalty and not even having some coverage?
Common Core Math Same As ACA Math?
- Thread starter Mrs.A.Mann
- Start date
She will be still subjected to the penalty. $1,875.00 What's the point of paying the penalty and not even having some coverage?
You asked for suggestions. He/She gave a suggestion.
Curious where you came up with a penalty of $1,875? A person will pay the higher of 2.5% of their income or $695 per adult. Is her income $75,000?
- 1,305
On a 52 year old female? 
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- #14
Mrs.A.Mann
Expert
Yes. 90k if she'd started in January. She may still pull out 75 if she starts a new project end of next month.
So for now, she just needs an affordable plan $250 ish, that she can use and she'll make it up on the back end.
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I'm suggesting that with the penalty in force, that short term doesn't flush out since it's the premium for the short term policy + the penalty.
I apologize it came off flippant. I'm hustling. I appreciate your understanding and contributions.
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If she's making that kind of cash then how would she qualify for any tax help?
Further how is a $1200 + difference in cost of coverage per year gonna break a $ 75,000 per year income?
Sounds like she doesn't understand the value of having the coverage.
My thoughts exactly. That's why I asked the income question. A single person earning $75k-$90k can't swing $350 per month for health insurance, then they have a problem with money management. But then again, many in this country have money management issues. And now Obamacare has shifted the uninsured from the poor to the lower middle and middle class of this country. Of course, the cast majority of people still get their coverage through their employer so we aren't at critical mass on the outrage factor yet.
At this point, I'd state it quite clear to this woman. "Here's the lowest cost premium available. You either need to pay the premium or go without coverage and pay the penalty".
I wouldn't waste another minute on it.
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Estimate an income that is low enough to generate a subsidy which will keep her premium under $200 and a CSR Silver plan. If she ends up earning $90,000 this year, like she did in 2015, have her set aside enough of that $90,000 to repay the subsidy at tax filing time in 2017.
That's how I would advise someone in her situation who really wanted health insurance, but couldn't afford the premium at this time. It's essentially an interest-free ObamaCare loan.
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Show of hands.
How many professional insurance agents would believe a 52 yr old could buy health insurance for $217 per month?
Rick
How many professional insurance agents would believe a 52 yr old could buy health insurance for $217 per month?
Rick
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run one of dem poles
