[poncho-mike]

So I have a question that some of you guys may have already experienced. I am roughly two years older than my wife. I work full-time and my employer provides health insurance both of us. My wife has been working part time for the lst fifteen years, and I have always provided her insurance.

I realize that once I go on Medicare, she will have to buy her own insurance. My company's policy is that they won't cover my spouse unless I am covered. So if I retire this summer and go on Medicare, she will need to find her own insurance. Iknow she can get a policy through Obamacare, but I'm not sure what premiums will be. If I understand Obamacare correctly, you are quoted a price that is based on the type of plan and your age. If you qualify, there are subsidies. I think Obamacare looks at your income from the previous year. Do they look at the family income, or just the individual income?

[Bucksnort]

Originally Posted by poncho-mike

So I have a question that some of you guys may have already experienced. I am roughly two years older than my wife. I work full-time and my employer provides health insurance both of us. My wife has been working part time for the lst fifteen years, and I have always provided her insurance.

I realize that once I go on Medicare, she will have to buy her own insurance. My company's policy is that they won't cover my spouse unless I am covered. So if I retire this summer and go on Medicare, she will need to find her own insurance. Iknow she can get a policy through Obamacare, but I'm not sure what premiums will be. If I understand Obamacare correctly, you are quoted a price that is based on the type of plan and your age. If you qualify, there are subsidies. I think Obamacare looks at your income from the previous year. Do they look at the family income, or just the individual income?

My wife was also always covered under my insurance. She is two years older and was not working when I retired at 58. I did Cobra for 18 months (expensive for sure) then on Obamacare thru our state network. Both healthy so did a high deductible kind of plan. Qualified for subsidies which made a big difference. Our financial planner guy helped us manage income in order to maximize those subsidies as much as possible. Now both on Medicare. It works pretty much the way you stated. They will look at income based on the way you filed taxes the prior year.

Dan

[dhutton]

Originally Posted by Bucksnort

My wife was also always covered under my insurance. She is two years older and was not working when I retired at 58. I did Cobra for 18 months (expensive for sure) then on Obamacare thru our state network. Both healthy so did a high deductible kind of plan. Qualified for subsidies which made a big difference. Our financial planner guy helped us manage income in order to maximize those subsidies as much as possible. Now both on Medicare. It works pretty much the way you stated. They will look at income based on the way you filed taxes the prior year.

Dan

You estimate your income for the upcoming year when you apply. If you underestimate and exceed the threshold you will have to repay the tax credits. They use family income.

Don

[1970GPJ400]

Originally Posted by poncho-mike

So I have a question that some of you guys may have already experienced. I am roughly two years older than my wife. I work full-time and my employer provides health insurance both of us. My wife has been working part time for the lst fifteen years, and I have always provided her insurance.

I realize that once I go on Medicare, she will have to buy her own insurance. My company's policy is that they won't cover my spouse unless I am covered. So if I retire this summer and go on Medicare, she will need to find her own insurance. Iknow she can get a policy through Obamacare, but I'm not sure what premiums will be. If I understand Obamacare correctly, you are quoted a price that is based on the type of plan and your age. If you qualify, there are subsidies. I think Obamacare looks at your income from the previous year. Do they look at the family income, or just the individual income?

Mike,
I got married 5 years ago and had Obamacare coverage. I didn't think
about it at the time and continued on the subsidized coverage. The following year we filed tax return jointly and I had to pay back the subsidy ($12,000) as they
go by the household income. It didn't make sense as we each individually qualified for Obamacare but as a couple did not although our income was the same. Seemed like a marriage penalty but some tax and other rules when you get married don't make sense.