dualstow wrote: ↑Tue Nov 12, 2024 10:47 am
I didn’t know about any of this. My wife and I buy our own health insurance out of pocket. Not on the exchanges, though. We’ve always gotten a better deal from a broker. This month might be the first time I use the exchange, because our guy is missing in action.
That is correct. My understanding is that you can't have $81,760 in earning PLUS the standard deduction. How AGI is figured for ACA premiums is very specific.
ETA, Dualstow... Just to reiterate, ACA premiums are capped at 8.5% of income for both 2024 & 2025. This site lays that out quite clearly:
So, what that might mean is creating a cash buffer if you were going to be on the ACA plans into 2026 and beyond. By doing this one could make it easier to stay under the 400% of FPL beyond 2025 because it may not be as necessary to pull from investments if one has money to pay for bills for a few years. Hope that makes sense.
I haven't seen Tyler post on here for ages but I believe he is the Yoda of all things ACA.
