health insurance

[oceanlovin'ea]

Client has health insurance available through his employer BUT his insurance is over $6300 for the year. It is pre-tax money. His W-2 is only $15000.00.

Since he has health insurance available through work, he can't go to the marketplace. He seems to be stuck in this horrible situation.

His wife just started getting disability during 2014. Some of it was retroactive to 2013. So by the end of the year the wife may be on medicare. Then he could drop her from the insurance.

Do they have any options?

Linda EA

[kathyc2]

Coverage available through work is not an automatic disqualifier. If the cost of employee only coverage is more than 9.56% of household income credits may still be available.

https://www.healthcare.gov/glossary/affordable-coverage/

[oceanlovin'ea]

definitely more

His is definitely more. It is about 42% of his income. So since it is more than 9.56% of his income, he can go to the marketplace and see if it would be cheaper.

[kathyc2]

You need him to find out how much the deduction would be for only his coverage and not the family coverage. Then take this number and divide by total household income including SS disability. Also, don't forget to gross up his income for premiums that would not be paid if he gets coverage from Marketplace.

[oceanlovin'ea]

agent

I gave them the name of a reputable insurance agent that can help them with the insurance situation.

Linda EA