Gifting Money Counts As Income, Apparently

[houcoogster]

If they don't accept gift money and thats a big IF.

All one has to do is 1099 the loved one for "Consulting Fee"......problem solved!

 

[Ann H]

Ann,

"Clawback would apply"?

I thought we all agreed that if income ends up being under subsidy eligibility at the end of the year, there's no clawback?

Ray, you are correct. I reread the original post and it says this couple had very low or no income without the gift.

 

[Nikita]

One of my clients has parents both about 80 years old that he was trying to get an on-exchange policy for. They have no income and are in a non-Medicaid expansion state, so not eligible for subsidy with no income. Apparently the HC.gov app allows money that is gifted to them by their own child to be considered income for purposes of calculating a subsidy, and now they get a $1200/mo subsidy with max cost-sharing reduction, resulting in a $3/mo premium.

Never seen this scenario before. You learn something new every day...what a system!

Why isn't this couple on Medicare?

 

[dgoldenz]

Why isn't this couple on Medicare?

They don't qualify for it