I have a question on the Subsidy with Obama care?

[Antares]

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

Look g, I've already sown you that "cost sharing" and "subsidies" are to different things, just say thank you.

 

[Politico]

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...

Since that guy doesn't get subsidized it's hypothetical. But playing along the question you should be asking is what magical orifice is that guy going to pull a grand a year from?

 

[Amelia]

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

"Cost-sharing subsidies" are different from the other subsidies most people are talking about.

 

[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.

I'm sorry, the Government pays for it? Didn't Obama run a 2 trillion dollar deficit this last year?

Unlike Medicare Part D, this plan is paid for. Isn't it wonderful, Eddie?!

 

[Wyatt earp]

Is that so? I have not heard that before.

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

"Cost-sharing subsidies" are different from the other subsidies most people are talking about.

Dang Ii always thought I was a street smart guy... I have no Idea what "cost-sharing and other subsidies are?

 

[Amelia]

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

I'm sorry, the Government pays for it? Didn't Obama run a 2 trillion dollar deficit this last year?

Unlike Medicare Part D, this plan is paid for. Isn't it wonderful, Eddie?!

^^
Do you really believe that? That's another of the O-care lies. It was already over budget before all the fixes had to be made. The costs are on track to balloon.

 

[Kosh]

The tax credit to help you buy health insurance is “advance-able”, meaning that you do not have to wait until the end of the year. The government will pay the health insurer directly for your health insurance; you will pay the difference between what the government pays the total cost.

Your subsidy is based upon your income, which you will report as part of your application to a plan. When you file your taxes for 2014, you will have your actual income which may be higher or lower than what you reported earlier. So, if you qualify for less subsidy than you got (which would happen if your income went up), you will pay the government back; and vice versa, if you qualify for more subsidy, your tax refund will be greater.

You can get an estimate of your subsidy at the Kaiser Family Foundation website. Keep in mind that these calculators are estimating what your plan will cost. They may be higher or lower than what you see on the calculator.

There are also subsidies for paying your plan’s deductible and co-pays. These are also based upon your income, though it’s not clear how these would be adjusted “after the fact” if your income goes up or down.

Obamacare subsidies ? how they work | Health Unsurance

 

[asterism]

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.

False.

The subsidy is based on the year in which the subsidy is applied.

 

[asterism]

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...

His subsidy is determined based on his stated expected income and that income is compared to previous income records.

He pays $80 per month in your scenario and is billed any overage if his income is higher than what he claimed it would be. There are no audits, though. IRS audits are a separate matter.

 

[asterism]

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.

Good catch, I missed that.

On edit:

Except I'm wrong. Cost Sharing is available only on Silver Plans. Subsidies are available on Bronze Plans.

 

[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.

Good catch, I missed that.

You missed something? Hard to believe.

 

[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.

False.

The subsidy is based on the year in which the subsidy is applied.

Is that right? Interesting. Logistically interesting.

 

[Kosh]

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

False.

The subsidy is based on the year in which the subsidy is applied.

Is that right? Interesting. Logistically interesting.

Subsidy Calculator | The Henry J. Kaiser Family Foundation

 

[Amelia]

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

False.

The subsidy is based on the year in which the subsidy is applied.

Is that right? Interesting. Logistically interesting.

Yeah.

That's why freelancers are having trouble figuring out what to put down for wages.

And why people are feeling not quite as happy as they might about the prospect of raises -- if you're on the cusp the raise could make you owe the gov't a refund on the subsidy.

And in some scenarios people whose wages decreased over the year could end up owing refunds on the subsidies.

 

[asterism]

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.

You're correct and I was mistaken.

 

[asterism]

Is that so? I have not heard that before.

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

Look g, I've already sown you that "cost sharing" and "subsidies" are to different things, just say thank you.

You're correct and my first comments were wrong.

 

[asterism]

Is that right? Interesting. Logistically interesting.

More like another pitfall for the middle class. That's how the government does things.

Not really. But you can always hope.

I certainly don't hope for that. I have a lot of time, money, and personal credibility invested in this new direction for the country. My job is to best serve my customers by getting them the plans that best fit their circumstances. Regardless of my personal views of how things should be done, someone needs to give the people the best chance to get the best coverage they can and that's what I do.

 

[Wyatt earp]

Wait a second? The premiums are due January 1st, the 1st penalty is due April 15th.

Who is keeping track on what you make and what you have to pay? Like someone posted a lot of fraud and waste is going to happen.

 

[Kosh]

Wait a second? The premiums are due January 1st, the 1st penalty is due April 15th.

Who is keeping track on what you make and what you have to pay? Like someone posted a lot of fraud and waste is going to happen.

The IRS is in charge of this portion of Oabamcare.

When you file your taxes at the end of the year you will be in for a big surprise come tax day.

 

[LoneLaugher]

Yes! Everyone who buys insurance on the exchange is such an idiot! They will all be shocked by how much the thing that they bought will cost them!