Common Core Math Same As ACA Math?

[sman]

Estimate an income that is low enough to generate a subsidy which will keep her premium under $200 and a CSR Silver plan. If she ends up earning $90,000 this year, like she did in 2015, have her set aside enough of that $90,000 to repay the subsidy at tax filing time in 2017.

That's how I would advise someone in her situation who really wanted health insurance, but couldn't afford the premium at this time. It's essentially an interest-free ObamaCare loan.

But then you have that pesky little challenge of providing proof of income.

 

[AllenChicago]

But then you have that pesky little challenge of providing proof of income.

Some applicants have their number drawn for submitting proof and some don't. In the meantime, the applicant is insured. Once the new gig comes along, she can call in a Change of Income to shut subsidy and CSR off.

 

[Tkruger]

Estimate an income that is low enough to generate a subsidy which will keep her premium under $200 and a CSR Silver plan. If she ends up earning $90,000 this year, like she did in 2015, have her set aside enough of that $90,000 to repay the subsidy at tax filing time in 2017.

That's how I would advise someone in her situation who really wanted health insurance, but couldn't afford the premium at this time. It's essentially an interest-free ObamaCare loan.

If I didn't know any better this would seem like you're educating the consumer on how to game the system.

Any agent doing this would be knowingly committing fraud.

 

[AllenChicago]

If I didn't know any better this would seem like you're educating the consumer on how to game the system.

Any agent doing this would be knowingly committing fraud.

Estimating 2016 income is legal. It's a question on the application, TKruger. It's up to the applicant what he/she estimates. We're just advisors who follow the law by presenting all available options.

 

[Tkruger]

It was how it was outlined. If income is that out of whack the insured is required to report the gross change in income...thus changing Deductible, MOOP and monthly premium.

 

[sman]

Some applicants have their number drawn for submitting proof and some don't. In the meantime, the applicant is insured. Once the new gig comes along, she can call in a Change of Income to shut subsidy and CSR off.

I understand how it works. I've been very fortunate in that virtually all of my self-employed clients have been asked to provide income documentation.

And since this woman obviously won't have any proof of future income seeing that she has no current contract for employment, the subsidy would be gone and she's back to where the OP states she can't afford the coverage. I'll be damned if I'm going through all that hassle for three months worth of commission.

 

[AllenChicago]

I understand how it works. I'll be damned if I'm going through all that hassle for three months worth of commission.

Understood SMan. The agent who started this thread asked for ideas. I hope Mrs.A.Mann is satisfied now.

 

[sman]

Understood SMan. The agent who started this thread asked for ideas. I hope Mrs.A.Mann is satisfied now.

She probably got more than she bargained for. My suggestion to her is since she's a multi-line person, she may be better off finding someone who specializes in health insurance and refer people to that agent. She may earn more money from that agent referring people to her than she ever would on the health insurance.