We've all heard it before, self employed person making too much money for APTC, and whining about the $1000/mo premium. I bring up a word document on my Join.me screen and start typing out the following:
$12,000 – Total premium per year
+ $8600 – H.S.A contribution for couple aged 55 and above
= $20,600 – total amount pullled out of pocket
= $14,832 – True after tax cost at 28% federal tax bracket
- $8600 – Still have H.S.A money in account (I'm healthy!)
= $6232/yr = $519/mo (real after tax cost of insurance at 28%)
150k income X 2.5% = $3750 = Penalty for no insurance
$2482 / 12 = $206/mo extra cost vs penalty to protect your assets. Now, go extract your benefits out of the policy and get your free butt scope and other free prev care
net net = Free insurance and asset protection.
Winner winner chicken dinner.
$12,000 – Total premium per year
+ $8600 – H.S.A contribution for couple aged 55 and above
= $20,600 – total amount pullled out of pocket
= $14,832 – True after tax cost at 28% federal tax bracket
- $8600 – Still have H.S.A money in account (I'm healthy!)
= $6232/yr = $519/mo (real after tax cost of insurance at 28%)
150k income X 2.5% = $3750 = Penalty for no insurance
$2482 / 12 = $206/mo extra cost vs penalty to protect your assets. Now, go extract your benefits out of the policy and get your free butt scope and other free prev care
net net = Free insurance and asset protection.
Winner winner chicken dinner.