I have a self employed client that can probably get several thousand in tax credit if he buys off the exchange. He currently has everyone (husband, wife, 1 kid) in the family on separate $5300 deductible policies.
Moving to the exchange means significant tax credit - if his income doesn't increase but then he's looking at doubling his out of pocket because the deductible is shared vs embedded. As it is now, he can pay everything out of his HSA for 7 or 8 years even if he hits the max. Changing means the cash could be gone in a few years. Not changing means he loses the plans mid-year at renewal anyway.
Is there a way to keep the lower individual deductible where it is instead of jumping to the higher family deductible without sucking a bunch of premium?
On top of this, Blue Cross is paying crap for commissions.
----------
Does this couple have to both enroll on the same exchange policy to get the tax credit? They don't care whether they take the credit as premiums are paid or at the end of the year.
Moving to the exchange means significant tax credit - if his income doesn't increase but then he's looking at doubling his out of pocket because the deductible is shared vs embedded. As it is now, he can pay everything out of his HSA for 7 or 8 years even if he hits the max. Changing means the cash could be gone in a few years. Not changing means he loses the plans mid-year at renewal anyway.
Is there a way to keep the lower individual deductible where it is instead of jumping to the higher family deductible without sucking a bunch of premium?
On top of this, Blue Cross is paying crap for commissions.
----------
Does this couple have to both enroll on the same exchange policy to get the tax credit? They don't care whether they take the credit as premiums are paid or at the end of the year.
