I have a question on the Subsidy with Obama care?

[Wyatt earp]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

 

[LoneLaugher]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

They pay 80 per month. The gov't pays the rest. The subsidy is based on the previous year's reported AGI.

 

[Amelia]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

They pay 80 per month. The gov't pays the rest. The subsidy is based on the previous year's reported AGI.

I'm not sure about that. I have questions about that from two directions.

My friend here in Wisconsin told me that when he tried to find a plan he found one which would be affordable if the subsidies applied immediately, but he said that they wouldn't apply immediately -- he'd get them as a tax refund. I was unsure about that and tried to find confirmation or contradiction but never found either.

As to what the subsidy is based on, I've read in multiple sources that people with variable incomes are having troubles trying to figure out how much to declare because they could end up having to pay the subsidies back if they underestimate what they end up making for the year. So I think the subsidy estimate may be based on the previous year's reported AGI, but I am under the impression that at the end of the year there is a reckoning based on how much you made during the year for which you purchased insurance.

 

[Wyatt earp]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

They pay 80 per month. The gov't pays the rest. The subsidy is based on the previous year's reported AGI.

Oh so it would start in April 15th 2014? And would get modified year after year on April 15th?

 

[Wyatt earp]

That make sence, hope you are right.

 

[Antares]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

They pay 80 per month. The gov't pays the rest. The subsidy is based on the previous year's reported AGI.

I'm not sure about that. I have questions about that from two directions.

My friend here in Wisconsin told me that when he tried to find a plan he found one which would be affordable if the subsidies applied immediately, but he said that they wouldn't apply immediately -- he'd get them as a tax refund. I was unsure about that and tried to find confirmation or contradiction but never found either.

As to what the subsidy is based on, I've read in multiple sources that people with variable incomes are having troubles trying to figure out how much to declare because they could end up having to pay the subsidies back if they underestimate what they end up making for the year. So I think the subsidy estimate may be based on the previous year's reported AGI, but I am under the impression that at the end of the year there is a reckoning based on how much you made during the year for which you purchased insurance.

My friend here in Wisconsin told me that when he tried to find a plan he found one which would be affordable if the subsidies applied immediately, but he said that they wouldn't apply immediately -- he'd get them as a tax refund. I was unsure about that and tried to find confirmation or contradiction but never found either.

You get to choose how you want to use it, you can take it up front, or on the back end at Tax Time.

but I am under the impression that at the end of the year there is a reckoning based on how much you made during the year for which you purchased insurance

Yup, they will look at income upon the next filing and reconcile. One of the upfront disclaimers is that if at any time during the year the income changes they are to contact the Mktplace.

 

[Jackson]

So, coming tax time2015, Americans could have yet another day of reckoning due to another, "trust me!" Oh boy...

 

[LoneLaugher]

ObamaCare Subsidies

 

[Wyatt earp]

ObamaCare Subsidies

Thanks lone for the link. But I am still confused by it and not in a sarcastic way.

 

[g5000]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

You cannot get a subsidy with a Bronze plan.

 

[Antares]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

You cannot get a subsidy with a Bronze plan.

You are full of shit, you cannot get cost sharing with a Bronze plan.

 

[LoneLaugher]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

You cannot get a subsidy with a Bronze plan.

Is that so? I have not heard that before.

 

[Antares]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

You cannot get a subsidy with a Bronze plan.

Is that so? I have not heard that before.

He hasn't a clue, you can use the subsidies with Bronze, you can't use cost sharing with them.

 

[CMike]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

You have a choice.

You can only use tax subsidies with silver.

1) You can pay less for health insurance each month because of the subsidy

2) You can take all the money at tax time as a refund.

It can be reconciled at tax time.

 

[LoneLaugher]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

You cannot get a subsidy with a Bronze plan.

You are full of shit, you cannot get cost sharing with a Bronze plan.

Take it easy, bro. It's Christmas.

 

[Antares]

You cannot get a subsidy with a Bronze plan.

You are full of shit, you cannot get cost sharing with a Bronze plan.

Take it easy, bro. It's Christmas.

Ok, I just get tired of him acting lie he knows what he is talking about.

Subsidies can be used on all levels, it is cost sharing that is restricted to Silver.

If your income falls between 100 and 250% of the federal poverty level ($11,490 to $28,725 for an individual), you may be eligible for a Cost-Sharing Reduction subsidy, which can help lower your deductibles, copayments and coinsurance. In order to receive Cost-Sharing Reductions, you must purchase a Silver plan on the Marketplace. You will still have a variety of plans from which to choose, but it must be Silver to be able to take advantage of the Cost-Sharing Reduction subsidy.

How To Choose Between Bronze, Silver, Gold And Platinum Health Insurance Plans

 

[1776]

It is amazing Democraps are for slashing DoD weapon systems and Veteran benefits, but are gung ho about spending more money on giving people a subsidy for their health insurance.

I don't recall seeing health insurance coverage in the US Constitution.

 

[LoneLaugher]

It is amazing Democraps are for slashing DoD weapon systems and Veteran benefits, but are gung ho about spending more money on giving people a subsidy for their health insurance.

I don't recall seeing health insurance coverage in the US Constitution.

Hey! If you try, you can fit even more bullshit into a single sentence. Go ahead...challenge yourself!

 

[Antares]

The calculation is based on the premium for the second lowest cost
silver plan available to them in the exchange, but individuals do not have to enroll in this plan for
their coverage. A person who chooses to enroll in a less expensive plan(e.g., the lowest cost
silver plan or a bronze plan) will receive the same tax credit amount and they will pay a lower
premium. A person who chooses a more expensive plan (e.g., a higher cost silver plan or a gold
plan) will receive the same tax credit amount, but will pay a higher premium.

http://www.acscan.org/pdf/healthcar...d/HealthReformPremiumCostSharingSubsidies.pdf

 

[g5000]

Ok say a person was making 20 grand a year and pick the Bronze plan. It cost say $500 bucks a month. But with a subsidy from Obama it only cost that person say $80 bucks a month.

So my Question is does that person have to pay $500 bucks a month for an entire year and gets all that money back the next April 15th? ??????

Or are they going to audit him every month.. Say In May he had a job making 25 grand a year then in August he switched jobs and now is making 40 grand a year??? And then in February he switches jobs again and now only makes 12 grand a year?

I don't get it...

You cannot get a subsidy with a Bronze plan.

Is that so? I have not heard that before.

Comparing Exchange Plans: Bronze, Silver, Gold, Platinum - Medicoverage.com