Category Archives: Health Reform/ Affordable Care Act

Obamacare: getting subsidies at tax filing time

My income is all over the place from one year to the next because I am a serial entrepreneur — I start businesses all the time.  I’m afraid to buy my health plan on the exchange, for fear I’ll have a good year and then not qualify for the subsidy.  If I buy “off exchange” […]

Obamacare: college student falls into gap between Medicaid and exchange plans

My 21-year-old son is currently an unemployed student at Avila University in Kansas City Missouri and has no health coverage.  What are his options? Studious Parent  Dear Studious Parent, I’m guessing from your question that neither parent has a group health plan that would cover him.  That is likely to be the least expensive option.  […]

Obamacare: plan cost tripled, how to maximize Medicare benefit

I have scleroderma. I’ve been on Medicare about six years now, and also have another health plan.   I kept the other health plan because Medicare would not pay for the drug I need for my scleroderma.  I take Viagra which keeps blood flowing to my extremities do I don’t lose them! My health plan was […]

Obamacare: Employer’s plan for family too expensive

My husband and I have six children.  Our household income is around $37,000.  My job offers health insurance, but it would cost almost a third of my pay to cover our family.  I cannot afford to do that, for obvious reasons.  I then found out that we cannot get any help to buy health insurance, […]

Obamacare – Profit from business sale counts as income

My husband is disabled and gets $1,008 per month. We sold our business last year but we are getting our last payment of $36,000 this year. Do we have to claim this as income? I should make around $30,000 this year. Do I put income as $42,000 or $78,000? Early Retiree in Missouri Dear Early […]

Affordable Care Act: The reason for the penalty

Why is there a penalty for not having health insurance?  Aren’t my financial affairs my business any more? Libertarian At Heart  Dear Libertarian At Heart, I’m guessing that you are looking for a philosophical answer, not just “because the law says so”.  The rationale for the penalty goes something like this . . . People […]

Affordable Care Act: What to do at age 26

My daughter will be turning 26 in October and lives in New York.  She in unmarried, unemployed, and a single mother. My daughter and my grandson live with me.  She is currently covered under her father’s health insurance.  He lives in Connecticut, but works in New York.  He has been notified she will not be […]

Obamacare: when you can drop your plan

What month can I drop health insurance? Going Bare Dear Going Bare,    There are lots of reasons that dropping your health plan at any time is unwise.  But to answer your question: You can go for up to three months without health insurance, and still not have to pay the penalty/ tax.  You drop […]