Latest News
FAQ’s
A. November 1, 2021: Open Enrollment started
December 15, 2021: Deadline for coverage that starts January 1, 2022.
January 15, 2022: Last day to sign up for 2022 coverage. Coverage starts February 1, 2022. After January 15, you can only buy a health plan if you qualify for a Special Enrollment Period.
December 15, 2021: Deadline for coverage that starts January 1, 2022.
January 15, 2022: Last day to sign up for 2022 coverage. Coverage starts February 1, 2022. After January 15, you can only buy a health plan if you qualify for a Special Enrollment Period.
A. In a normal year, your options for coverage are very limited if you didn’t enroll in a plan by December 15 (or the end of open enrollment in your state, which might extend into January, depending on where you live). The open enrollment period applies outside of the exchange as well. But 2021 is not a normal year. There’s a one-time enrollment window designed to address the ongoing COVID pandemic, and there are also newly enhanced premium subsidies that became available a few months into the year.
A. You can always make multiple health insurance plan selections during open enrollment, as long as you complete the final plan change by the end of open enrollment. For 2021 coverage, open enrollment ended on December 15, 2020 in most states, although it extended into January in some states.
A. Yes, but he cannot get a subsidy to help pay for health insurance in the marketplace. If you have access to an employer-sponsored plan that is deemed affordable, you cannot get a subsidy to help pay for an individual policy instead.
A. Just about anyone can enroll in an exchange plan. But eligibility for a subsidy depends on how much your group plan costs and the quality of the coverage. Based on income alone, you’d be eligible for a subsidy. (The upper income limit for subsidies for a household of two is about $68,960 for 2021 coverage.) But regardless of your income, you’re not eligible for a subsidy if you have access to an employer-sponsored plan that is “affordable” and meets “minimum value” requirements.
A. For the purpose of determining subsidy eligibility, the IRS and the health insurance exchanges use an ACA-specific version of modified adjusted gross income (MAGI). MAGI is based on household income, even if only one spouse is applying for a policy in the exchange.
Keep in mind that subsidy eligibility is a function of income related to the poverty level. Although your total household income is obviously higher than your wife’s income alone, the poverty level for a household of two is also higher than the poverty level for a household of one. So, while your income is counted when determining whether she’ll qualify for a subsidy, you’re also counted as part of the household when determining how the household’s income compares with the poverty level.
A: Yes. Since your parents are not eligible for Medicare, they can purchase a private plan in the exchange (marketplace), and can receive cost-sharing reductions and premium subsidies if they are eligible based on income.
A. You can have the best of both worlds – a broker can help you enroll through the exchange, giving you personalized help and recommendations, but also allowing you to get any Obamacare subsidies for which you’re eligible.
A. You can get your own health insurance policy, but since you’re counted as a dependent on your parents’ tax return, your household income for subsidy eligibility determination purposes will include their income as well, and you’ll be counted as a household of three (or more, if you have siblings who are also dependents on your parents’ tax return).
Latest News
FAQ’s
A. November 1, 2021: Open Enrollment started
December 15, 2021: Deadline for coverage that starts January 1, 2022.
January 15, 2022: Last day to sign up for 2022 coverage. Coverage starts February 1, 2022. After January 15, you can only buy a health plan if you qualify for a Special Enrollment Period.
December 15, 2021: Deadline for coverage that starts January 1, 2022.
January 15, 2022: Last day to sign up for 2022 coverage. Coverage starts February 1, 2022. After January 15, you can only buy a health plan if you qualify for a Special Enrollment Period.
A. In a normal year, your options for coverage are very limited if you didn’t enroll in a plan by December 15 (or the end of open enrollment in your state, which might extend into January, depending on where you live). The open enrollment period applies outside of the exchange as well. But 2021 is not a normal year. There’s a one-time enrollment window designed to address the ongoing COVID pandemic, and there are also newly enhanced premium subsidies that became available a few months into the year.
A. You can always make multiple health insurance plan selections during open enrollment, as long as you complete the final plan change by the end of open enrollment. For 2021 coverage, open enrollment ended on December 15, 2020 in most states, although it extended into January in some states.
A. Yes, but he cannot get a subsidy to help pay for health insurance in the marketplace. If you have access to an employer-sponsored plan that is deemed affordable, you cannot get a subsidy to help pay for an individual policy instead.
A. Just about anyone can enroll in an exchange plan. But eligibility for a subsidy depends on how much your group plan costs and the quality of the coverage. Based on income alone, you’d be eligible for a subsidy. (The upper income limit for subsidies for a household of two is about $68,960 for 2021 coverage.) But regardless of your income, you’re not eligible for a subsidy if you have access to an employer-sponsored plan that is “affordable” and meets “minimum value” requirements.
A. For the purpose of determining subsidy eligibility, the IRS and the health insurance exchanges use an ACA-specific version of modified adjusted gross income (MAGI). MAGI is based on household income, even if only one spouse is applying for a policy in the exchange.
Keep in mind that subsidy eligibility is a function of income related to the poverty level. Although your total household income is obviously higher than your wife’s income alone, the poverty level for a household of two is also higher than the poverty level for a household of one. So, while your income is counted when determining whether she’ll qualify for a subsidy, you’re also counted as part of the household when determining how the household’s income compares with the poverty level.
A: Yes. Since your parents are not eligible for Medicare, they can purchase a private plan in the exchange (marketplace), and can receive cost-sharing reductions and premium subsidies if they are eligible based on income.
A. You can have the best of both worlds – a broker can help you enroll through the exchange, giving you personalized help and recommendations, but also allowing you to get any Obamacare subsidies for which you’re eligible.
A. You can get your own health insurance policy, but since you’re counted as a dependent on your parents’ tax return, your household income for subsidy eligibility determination purposes will include their income as well, and you’ll be counted as a household of three (or more, if you have siblings who are also dependents on your parents’ tax return).