I'm sorry Ann, I follow you as someone I would consider a "guru". That first part is what I have read here on the forum.
They will lose their subsidy, but they won't have to pay it back (so far, that's the consensus). I should've written that that "seems to be the consensus here". Better?
HOWEVER, I've already seen with my two eyes actual letters stating that the subsidies are lost for many people who mis-projected their income. Also, that if they want new coverage for 2015, they have to submit past premium from when they lost subsidy and possibly coverage, to continue coverage. IF they do not do that, they will not be able to obtain coverage. Did NOT want to write a book.
I am certified and do know what MAGI is. This was info from CPAs and tax accountants, the Line 37, for the most part...I'm not trying to write a book, just show that there will be LOSSES. It was stated as fact. I know plenty of them too, and plenty of clients with such professions. I am a very small operation, but I do have a few agents of my own (not micromanaging, theyre trained properly), and many, many friends who are choosing to do Marketplace ACA sign ups....I hear about it and read about it daily, and I make it MY business to familiarize myself with the tax accountants views and what they know and social workers and other professionals who are involved. (seems like I remember you have a tax accountant husband? no? Idk, think I may have read that a long time ago--could be wrong, let me clarify that, really don't have time to go look up all of your posts...I'm human, make mistakes).
Some of the post is of opinion and I felt I stated it as so.
The last paragraph doesn't say anything about it being 'fact' and messing with earned income. I just wrote that "I would not be surprised" (which should be clear it's not a fact). If that gets taken as "fact", then that shouldn't be my responsibility. That would be a misperception on who reads it and how they would get it as fact out of "it wouldn't surprise me..." is beyond me. To each their own. Perhaps I should just read quietly, so as not to offend the heavy writers of this wonderful product...perhaps keep my reasoning and logic to myself. If not yet, on the earned income issue, down the road that is a real possibility, considering it is often garnished based on outstanding medical bills alone...and it has often been a way to recoup money from the Govt. --- BUT, this is an opinion, and wasn't stated as fact.
Just because I am not writing much of ACA, doesn't mean I haven't actively kept my skills sharpened. I've been in the health insurance market for enough years to understand a few things. I still have a LARGE book on 'other' health insurance products. Many people very close to me are writing tons in the MP-ACA. I've thrown out a few questions here and there in this forum, but I always go to the source to double check. Even there, there are conflicting answers for the same questions. Directly to the Marketplace reps themselves. As a rule, I tend to be conservative when it comes to this stuff, which is why I'm just reading and observing for now. Again, I do not see where I was stating "facts". Sorry to offend you, as it seems I did just that.
----------
Also, this was about people who took a subsidy when they really only qualified for Medicaid!! First off, how would the gov't get blood from a turnip. And, wasn't stated as fact, other than it was a "consensus", mostly what I've read here. Since most people haven't done their taxes yet, .... I do realize CLAWBACKS will be real.
They will lose their subsidy, but they won't have to pay it back (so far, that's the consensus). I should've written that that "seems to be the consensus here". Better?
HOWEVER, I've already seen with my two eyes actual letters stating that the subsidies are lost for many people who mis-projected their income. Also, that if they want new coverage for 2015, they have to submit past premium from when they lost subsidy and possibly coverage, to continue coverage. IF they do not do that, they will not be able to obtain coverage. Did NOT want to write a book.
I am certified and do know what MAGI is. This was info from CPAs and tax accountants, the Line 37, for the most part...I'm not trying to write a book, just show that there will be LOSSES. It was stated as fact. I know plenty of them too, and plenty of clients with such professions. I am a very small operation, but I do have a few agents of my own (not micromanaging, theyre trained properly), and many, many friends who are choosing to do Marketplace ACA sign ups....I hear about it and read about it daily, and I make it MY business to familiarize myself with the tax accountants views and what they know and social workers and other professionals who are involved. (seems like I remember you have a tax accountant husband? no? Idk, think I may have read that a long time ago--could be wrong, let me clarify that, really don't have time to go look up all of your posts...I'm human, make mistakes).
Some of the post is of opinion and I felt I stated it as so.
The last paragraph doesn't say anything about it being 'fact' and messing with earned income. I just wrote that "I would not be surprised" (which should be clear it's not a fact). If that gets taken as "fact", then that shouldn't be my responsibility. That would be a misperception on who reads it and how they would get it as fact out of "it wouldn't surprise me..." is beyond me. To each their own. Perhaps I should just read quietly, so as not to offend the heavy writers of this wonderful product...perhaps keep my reasoning and logic to myself. If not yet, on the earned income issue, down the road that is a real possibility, considering it is often garnished based on outstanding medical bills alone...and it has often been a way to recoup money from the Govt. --- BUT, this is an opinion, and wasn't stated as fact.
Just because I am not writing much of ACA, doesn't mean I haven't actively kept my skills sharpened. I've been in the health insurance market for enough years to understand a few things. I still have a LARGE book on 'other' health insurance products. Many people very close to me are writing tons in the MP-ACA. I've thrown out a few questions here and there in this forum, but I always go to the source to double check. Even there, there are conflicting answers for the same questions. Directly to the Marketplace reps themselves. As a rule, I tend to be conservative when it comes to this stuff, which is why I'm just reading and observing for now. Again, I do not see where I was stating "facts". Sorry to offend you, as it seems I did just that.
----------
Also, this was about people who took a subsidy when they really only qualified for Medicaid!! First off, how would the gov't get blood from a turnip. And, wasn't stated as fact, other than it was a "consensus", mostly what I've read here. Since most people haven't done their taxes yet, .... I do realize CLAWBACKS will be real.
Last edited:
