Mon
Nov 11 2013
09:42 am

One of the stumbling blocks to determining if one is eligible for a subsidy on the ACA is estimating one's potential income a year in advance. not always an easy thing to do, there are a lot of "ifs and and buts" that are part of the equation. Over estimate and you owe back money, under estimate and well you may be over-paying for insurance.

So, my interest was piqued when I saw this report, Self-Employed and with lots of questions on NPR.

Except, it was incredibly disappointing, at least I felt it was disappointing. Only 2 of the questions relate to the self-employed.

HOWEVER, the final question may be something we could all be interested in -- how to get a paper application and by-pass (maybe) the website.

Up Goose Creek's picture

Subsidies

Over estimate and you owe back money, under estimate and well you may be over-paying for insurance

CE, I think you've got it backwards. If I understand Becky H correctly, it all gets figured finally when you file your 2014 taxes, so the subsidy or lack thereof would figure into your refund or amount owed.

My take on it is to be careful you don't have an income just above the cutoff rate - that would have an actual negative effect on your net income. But if you are self employed there may be expenses you could pay ahead of time to get your income down - in my case it would be property taxes.

I understand the high deductable plans are eligible for a health savings account. I'm not sure but it may be possible that you could get your income under the limit by making contributions to a HSA.

Thanks for the heads up on the printed applications. I called and got an operator right away.

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