From my prior post, you can see that my premiums will be around $600-$800 a month. <\/p>\n
If I want to “socialize” that expense, how does it go down as my income goes down? Because NC voted to not expand Medicaid and I’m not eligible for it, for an income less than the poverty level (around $11,500) I would get no subsidy – the thought being if NC had expanded Medicaid, I would be covered and not use the exchange.<\/p>\n
So here are the subsidy amounts based on my estimated income <\/p>\n
Annual
\nIncome Subsidy<\/p>\n
$0 -> $0
\n$5000 -> $0
\n$10,000 -> $0
\n$15k -> $6,714 [bronze plan basically free]
\n$20k -> $5,992
\n$25k -> $5,285
\n$30k -> $4,502
\n$35k -> $3,689
\n$40k -> $3,214
\n$45k -> $0<\/p>\n
Let’s say I return to being retired and have no earned income (for several years, my adjusted gross was negative due to paying my insurance)<\/p>\n
If I lie and say I had $15000 in income when I don’t, I get a free health insurance. On $15k of income, the income tax is negligible as long as it isn’t taxed by social security. <\/p>\n
I don’t think the IRS is set up to prosecute people who report income they didn’t earn. HPaws could send in a 1099 saying he paid me $15k, I sign the $15k check back to Hpaws, he gets the tax writeoff and I get free health insurance! It’s a good thing we’re honest people.<\/p>\n","protected":false},"excerpt":{"rendered":"
From my prior post, you can see that my premiums will be around $600-$800 a month. If I want to “socialize” that expense, how does it go down as my income goes down? Because NC voted to not expand Medicaid … Continue reading