Author: Bob Lin

Bob Lin, MS-MVP, MCSE & CNE Data recovery, Windows OS Recovery, Networking, and Computer Troubleshooting on http://www.ChicagoTech.net How to Install and Configure Windows, VMware, Virtualization and Cisco on http://www.HowToNetworking.com

I have medicare, can my doughter as student apply for ACA?

Yes, if your daughter is a student and meets the eligibility criteria, she can apply for health insurance coverage through the Affordable Care Act (ACA), even if you have Medicare coverage. The ACA offers options for individuals who do not qualify for Medicare and provides coverage for people under the age of 65.

Here are some important points to consider:

  1. Age and Dependency Status: Your daughter can apply for ACA coverage if she is under 26 years old, even if you have Medicare. The ACA allows young adults to stay on their parents’ health insurance plan until their 26th birthday. This provision applies regardless of whether the parent is enrolled in Medicare.
  2. Financial Considerations: Your daughter’s eligibility for premium tax credits and other subsidies through the ACA will depend on her own income and financial circumstances. If her income falls within a certain range and she meets other eligibility criteria, she may qualify for financial assistance to help reduce the cost of health insurance premiums.
  3. Enrollment Periods: Your daughter would need to enroll during the open enrollment period or a special enrollment period if she experiences a qualifying life event (such as graduating from school, losing coverage, or getting married). Open enrollment for ACA plans typically occurs annually, while special enrollment periods are triggered by specific events.
  4. Marketplace Application: To apply for ACA coverage, your daughter would need to visit the Health Insurance Marketplace (Exchange) website for your state or the federal Marketplace, depending on where you live. She can create an account, provide her information, and explore available health insurance plans.

It’s important for your daughter to research her options, consider her specific needs, and determine the best health insurance coverage for her situation. If she has questions or needs assistance with the application process, she can reach out to the Marketplace’s customer service or consult with a certified insurance agent or enrollment counselor.

Can you give me example how much may we pay for ACA if we are 250% FPL: $41,437 or below?

To provide you with an example, let’s assume a scenario where a family of three (two adults and one child) has an annual household income of 250% of the Federal Poverty Level (FPL), which is $41,437 for the year. Please note that this is a simplified illustration, and actual premium amounts can vary based on factors such as location, age, specific health plans available, and other individual circumstances.

For the purpose of this example, we’ll use some hypothetical numbers:

  • Annual Household Income: $41,437 (250% of FPL for a family of three)
  • Estimated Premium for a Benchmark Plan: $15,000 per year

Step 1: Calculate the Maximum Percentage of Income for Premiums In general, under the ACA, individuals and families at different income levels are expected to contribute a certain percentage of their income towards health insurance premiums. For a family at 250% of the FPL, the maximum percentage of income for premiums is capped at a certain level. This cap varies by income and family size. For this example, let’s assume the cap is 8.5% of the household income.

Maximum Premium Contribution = 8.5% of $41,437 = $3,519.45 per year

Step 2: Calculate the Premium Tax Credit (Subsidy) The premium tax credit helps reduce the amount you need to pay for health insurance premiums. It’s the difference between the cost of the benchmark plan and the maximum premium contribution.

Premium Tax Credit = Estimated Benchmark Plan Premium – Maximum Premium Contribution Premium Tax Credit = $15,000 – $3,519.45 = $11,480.55 per year

Step 3: Calculate the Final Premium Payment The final premium payment is the estimated benchmark plan premium minus the premium tax credit.

Final Premium Payment = Estimated Benchmark Plan Premium – Premium Tax Credit Final Premium Payment = $15,000 – $11,480.55 = $3,519.45 per year

In this hypothetical example, the family of three with an annual income of 250% of the FPL ($41,437) would pay approximately $3,519.45 per year for health insurance coverage through the Health Insurance Marketplace (Exchange). Keep in mind that this is just an illustrative example, and actual premium amounts can vary based on numerous factors. It’s recommended to use the HealthCare.gov website’s calculator or consult with a certified insurance agent for precise information based on your specific circumstances.

Examples of household income ranges in relation to the Affordable Care Act (ACA)

Here are some examples of household income ranges in relation to the Affordable Care Act (ACA) for the year 2021. Keep in mind that these figures are based on the federal poverty level (FPL) and may have changed since then. The FPL numbers can vary depending on household size and are used to determine eligibility for premium tax credits (subsidies) and Medicaid expansion. Please note that these are approximate figures and can vary based on location and other factors.

For the 2021 coverage year, the federal poverty level (FPL) guidelines were as follows:

  • 100% FPL for a single individual: $12,880
  • 138% FPL for Medicaid expansion (in states that expanded Medicaid): $17,774
  • 250% FPL for premium tax credits: $31,225
  • 400% FPL for premium tax credits: $49,960

Here are examples of household income ranges based on these FPL guidelines for different household sizes:

  1. Single Individual:
    • 100% FPL: $12,880 or below
    • 138% FPL (Medicaid expansion): $17,774 or below
    • 250% FPL: $31,225 or below
    • 400% FPL: $49,960 or below
  2. Two-Person Household (e.g., Individual + Spouse):
    • 100% FPL: $17,420 or below
    • 138% FPL (Medicaid expansion): $23,676 or below
    • 250% FPL: $41,437 or below
    • 400% FPL: $66,560 or below
  3. Family of Four (e.g., Two Adults + Two Children):
    • 100% FPL: $26,500 or below
    • 138% FPL (Medicaid expansion): $36,156 or below
    • 250% FPL: $64,375 or below
    • 400% FPL: $103,000 or below

These income ranges are used as a general guide to determine eligibility for premium tax credits and Medicaid expansion under the ACA. Keep in mind that actual eligibility and subsidy amounts can vary based on other factors, such as the cost of health insurance plans in your area and specific household circumstances.

Qualifications or eligibility criteria for the Affordable Care Act

  1. Citizenship or Immigration Status: You must be a U.S. citizen, national, or lawfully present immigrant to be eligible for coverage under the Affordable Care Act.
  2. Residency: You need to be a resident of the state where you’re applying for coverage. Each state may have specific residency requirements.
  3. Income: Your household income must fall within a certain range to qualify for premium tax credits (subsidies) that can help lower your monthly insurance premiums. The specific income thresholds depend on your household size and the federal poverty level.
  4. Employer-Sponsored Insurance: If you have access to affordable health insurance through your employer, you might not qualify for subsidies through the Health Insurance Marketplace (Exchange).
  5. Medicaid Expansion: The ACA also expanded Medicaid eligibility in participating states. If your state expanded Medicaid, you may be eligible if your income is within a certain range.
  6. Other Coverage: You cannot be currently incarcerated, and you generally cannot be enrolled in Medicare, Medicaid, or certain other types of health coverage.

How do COBRA and Medicare work together?

If you have more than one type of insurance coverage, the reimbursement to healthcare professinoal is divided into two types: primary and secondary. This is based on which insurance pays first and which pays second.

If you have Medicare and COBRA benefits, Medicare is your primary payer. This means that Medicare will pay for services first, and your COBRA plan will help pay for any remaining costs.

For example, when you use Medicare Part B, you generally pay a coinsurance of 20 percent of the Medicare-approved cost for the service. If your COBRA plan has a lower coinsurance or deductible, it can be used to pay for that remaining 20 percent.

CORBA plans may also cover services that Medicare parts A and B don’t, such as dental care, eye care, or medications. These additional expenses may also be covered by separate Medicare Advantage (Part C) or Medicare Part D plans.

Can I have COBRA and Medicare at the same time?

Yes or no.

You can have COBRA and Medicare together if you were already enrolled in Medicare when you become eligible for COBRA. For example, if you’re 67 years old and using a combination of Medicare coverage and coverage from your employer but then retire or scale down to part-time hours, you could be eligible for both COBRA and Medicare.

On the other hand, if you become eligible for Medicare while you’re already enrolled in COBRA, your COBRA coverage will end. So, if you leave your job at age 64 and enroll in COBRA, your COBRA coverage will end when you turn 65 years old and enroll in Medicare.