Filing threshhold for ACA

[Snaggletooth]

TTB states that the "filing threshold exemption" is the filing status minimum. If there are dependents, does the threshold become greater by $4000 per dependent? or does it remain at filing status minimum without adding for dependents?

[David1980]

TTB states that the "filing threshold exemption" is the filing status minimum. If there are dependents, does the threshold become greater by $4000 per dependent? or does it remain at filing status minimum without adding for dependents?

Filing threshold is unaffected by dependents. You can find them in Publication 501 and some other places. https://www.irs.gov/publications/p50...link1000270109

[unzuetay]

Health Exempt for 1 of 8?

Family of 8. Six children and father had healthcare except for mother. Would I figure the 15% on the total $42879 AGI? or divide 42879 by 8 ($5360) then take 15% of that ($804) to qualify for unaffordable exemption? I'm still confused how to calculate for one person when others in the family had health insurance. Any help would be appreciated.

[David1980]

Family of 8. Six children and father had healthcare except for mother. Would I figure the 15% on the total $42879 AGI? or divide 42879 by 8 ($5360) then take 15% of that ($804) to qualify for unaffordable exemption? I'm still confused how to calculate for one person when others in the family had health insurance. Any help would be appreciated.

Is the household income also $42,879? Federal poverty level for a family of 8 is $40,890 putting them at 105% of federal poverty level. In any state that expanded Medicaid they would qualify for free Medicaid. Or do they live in a state that did not expand Medicaid? In which case you might find it easier and simpler to not bother trying to calculate affordability and instead use the exemption "Resident of a state that did not expand Medicaid" with household income below 138% of the federal poverty line for the family size.

[TaxGuyBill]

Family of 8. Six children and father had healthcare except for mother. Would I figure the 15% on the total $42879 AGI? or divide 42879 by 8 ($5360) then take 15% of that ($804) to qualify for unaffordable exemption? I'm still confused how to calculate for one person when others in the family had health insurance. Any help would be appreciated.

I agree with David. First check out if they qualify for the exemption for living in a State that did not expand Medicaid (and their income was below 138% of the Federal Poverty Level, which would have qualified for Medicaid).

http://kff.org/health-reform/state-indicator/state-activity-around-expanding-medicaid-under-the-affordable-care-act/

In the event that does not apply (it probably does), the first question you need to answer is this: Was the mother eligible for insurance through an employer? It could be her employer, her spouse's employer, or a kid's employer.

As a side note, where did you get 15%? Do you mean 8.05%?

[unzuetay]

Is the household income also $42,879? Federal poverty level for a family of 8 is $40,890 putting them at 105% of federal poverty level. In any state that expanded Medicaid they would qualify for free Medicaid. Or do they live in a state that did not expand Medicaid? In which case you might find it easier and simpler to not bother trying to calculate affordability and instead use the exemption "Resident of a state that did not expand Medicaid" with household income below 138% of the federal poverty line for the family size.

Yes! I have been so preoccupied with checking affordability (and trying to understand it) i completely forgot about the resident of a state that did not expand medicaid. Texas based. Problem solved. Thank you very much!

[unzuetay]

As a side note, where did you get 15%? Do you mean 8.05%?

Dear Wise One,

It must have been a long day. Think I was trying to use the percentage for child tax credit instead of affordability insurance.

God Bless you



My new motto: There is wisdom in a multitude of counselors and a good nights sleep.