Obama care question I haven't heard yet

Reply Wed 13 Nov, 2013 12:02 pm
What happens if you figure your premiums based on what you made last year, but in the year of coverage you make significantly less, or significantly more?

Do you get reimbursed, or have to make a payment based on what was actually earned/made during the coverage year?
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Type: Discussion • Score: 4 • Views: 1,074 • Replies: 7
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Reply Wed 13 Nov, 2013 12:24 pm
Good question Chai. Also waiting for the answer.
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Reply Wed 13 Nov, 2013 03:37 pm
I don't know either, but at one time college Pell Grants were based solely on prior year with no exceptions*

Exception in case you were a "displaced worker", which was someone employed by an entire industry that cratered.

Maybe there's a clue in there, if you expect governments to be consistant.
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Reply Fri 15 Nov, 2013 07:32 am
No one else huh?

I think this is a much more realistic, practical question than all the conjecture on other threads.
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Reply Sat 30 Nov, 2013 11:18 am
I got an answer when I asked them in their chat area yesterday.

Answer just as they typed it:

Leftover savings you did not use on monthly premiums will be given back to you when you file your tax return. Keep in mind that if your income for family size changes, the savings you qualify for will change and you may have to pay back some of the savings on your next tax return.
Reply Mon 2 Dec, 2013 09:11 am
Here's another answer I got from the marketplace, this time via a phone call.

I had asked this question originally during the chat, but I didn't believe that answer was correct, so I called, further explained, and got the correct answer....

My question was re Social Security benefits.
My husband receives SS, and I asked whether it was the gross amount of earnings, or the lower amount after doing the IRS SS worksheet, which figures the taxable amount. This question was asked during the same chat session as the question above.

The chat representative said it was the gross amount.

Thinking about it, that didn't make sense to me, as I'm reading income is based on your modified adjusted gross income, which would be the lower, taxable amount.

I called the answer line, got through within 30 seconds and was told it was indeed, the lower, adjusted amount.

While it's disappointing that I feel I was told an incorrect answer on the chat page, overall I felt I received very good service.

While talking to the representative I told her I thought she was doing a great job and that I knew she was in a difficult position right now.

She hesitated, then thanked me, saying "yes, we get a lot of abustive calls" So I told her that on the next call she gets like that, to remember that there are people who appreciate that they as individuals are working hard and doing a good job. She said "You've really made my day"

I think it sucks that someone could call and rant to the customer service person as if they are personally responsible for problems on the website, when they are trying to do a job and support their own families.

That's infantile.
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Reply Mon 2 Dec, 2013 09:05 pm
I haven't even checked into the ACA yet, thought I would wait until we get to CA.

Supreme Court dismisses challenge to Obamacare mandate

The last, great hope of Republicans to see Obamacare killed outright is officially dead. They haven't been able to repeal it. They ran a presidential campaign on ending it, and were overwhelmingly rejected. The Supreme Court decided not to overturn the entire law once already, and has now dismissed the last big case challenging the underpinnings of the law.
The court rejected a petition filed by Liberty University, a Christian college in Virginia, which had raised various objections to the law, including to the key provision that requires individuals to obtain health insurance. [...]
By rejecting the Liberty University case, the justices left intact a 4th U.S. Circuit Court of Appeals of a May 2013 decision that dismissed the claims made by the college and two individuals, Michele Waddell and Joanne Merrill.

They're not going to kill it outright. They're officially out of opportunities. They're out of time legislatively, since they're going on the long recess on December 13. They'll have to change strategies now, because after January 1 repeal means taking people's insurance away, something even most Republicans will recognize isn't politically smart. So now it's going to be more efforts to chip away, to refuse to allow any fixes, to create as many obstacles as possible at the state level for implementation. All of which they will do, because it's now their entire reason for being.
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Reply Tue 25 Mar, 2014 02:00 pm
If you make less based on the income you applied with, then you will be a refund for the difference. If you make more than what you reported, you will owe some or all of the subsidy back. You can also use the "change in circumstances" option on the online application to adjust your income if needed or call the hotline and have them change it for you.
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