Federal Gov To Sponsor PPACA Health Plan

[HealthGuy]

Taterpeelers cryptic writings ! Spooky LOL

 

[STIBROKER]

I didn't mean harm. Just clarifying, and using a little bit of humor to do so. I know you're not racist!

You just have to learn how to speak and read peeler......I took the 4 week online course......

 

[taterpeeler]

You just have to learn how to speak and read peeler......I took the 4 week online course......

yes, I speak in Double entendres and cryptic terms all day long and twice on Sundays..... if people would just think a little about what my post may be saying and not what it actually says they will learn a heck of allot.

they say baseball is the thinking mans sport..... well... im the thinking mans poster....

carry on wayword sons

 

[STIBROKER]

carry on wayword sons

 

[taterpeeler]

sorry scott, you missed it.... read the words to that song and apply them to what we are going through..... bingo, spot on.

again... think people

 

[STIBROKER]

sorry scott, you missed it.... read the words to that song and apply them to what we are going through..... bingo, spot on.

again... think people

no watch the video.....when you say beer you are really talking about sunny d,old crow,Listerine and Wal-tussion.....I like mine over ice with a mint leaf garnish.......
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sorry scott, you missed it.... read the words to that song

and know the song...and saw the band in 1980...

 

[martino]

Can anyone in this forum confirm what i have heard regarding the following: if your individual health premium per year is more than 9.5 % of your taxable income you are then exempt from fines, taxes, fees and do not have to be in the exchange?

 

[Ann H]

Can anyone in this forum confirm what i have heard regarding the following: if your individual health premium per year is more than 9.5 % of your taxable income you are then exempt from fines, taxes, fees and do not have to be in the exchange?

You are talking about the penalty/tax for not carrying qualifying health insurance as required by PPACA's individual mandate. One of the exceptions states that you are exempt from the penalty/tax if the premium for the lowest cost qualifying plan (bronze level) is more than 8% of your family's MAGI (modified adjusted gross income).

The 9.5% figure comes from another calculation (the eligibility for subsidies calculation).

You ended your question "and do not have to be in the exchange". You do not have to be in the exchange if you do not want to be. You can still buy your insurance outside the exchange. However, the only way to get a subsidy is to go through the exchange.

 

[martino]

thank you ann h. just what i needed to know!
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You are talking about the penalty/tax for not carrying qualifying health insurance as required by PPACA's individual mandate. One of the exceptions states that you are exempt from the penalty/tax if the premium for the lowest cost qualifying plan (bronze level) is more than 8% of your family's MAGI (modified adjusted gross income).

The 9.5% figure comes from another calculation (the eligibility for subsidies calculation).

You ended your question "and do not have to be in the exchange". You do not have to be in the exchange if you do not want to be. You can still buy your insurance outside the exchange. However, the only way to get a subsidy is to go through the exchange.

where will this "modified adjusted gross income" line appear on the tax form? before or after the itemized deductions and personal exemptions?

 

[Ann H]

thank you ann h. just what i needed to know!
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where will this "modified adjusted gross income" line appear on the tax form? before or after the itemized deductions and personal exemptions?

AGI shows up on the very bottom line of page 1 of the Federal Form 1040. It is BEFORE itemized deductions and personal exemptions. It is modified by adding back certain deductions like non taxable investments.