Other than getting on spouse / partner health insurance, has anyone found good alternatives to COBRA in Phoenix Arizona area? I was told cost would be around $500 was single coverage by OneStop...
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The ACA is awesome. My interest from the bank and a required inherited IRA distribution along with my unemployment was all counted for my subsidy. You won't qualify for the highest subsidy but you will qualify for some. I have MUCH better insurance now than I did with Honeywell.
In Arizona you must have an minimum $16.5K (approx) TAXABLE income to qualify for insurance through the ACA. You can change your status throughout the year and only have insurance through the ACA exchange for part of the year. You'll have to call them for more details.
It's been an excellent deal for me for the last two years. All good things must come to an end...
So if I get 24K a year in munibond interest which is tax free does that count as taxable income for ACA ?
Thanks, for the pointer.. I will check into it in more details. Per your recommendation I checked the ACA website, and premium showed significant less cost than COBRA due to the subsidy if the income is low .
Can we go back to Cobra if Affordable Care Act gets cancelled?
Also does anyone know if there would be a penalty if the income goes up due to finding a new job and the annual income goes up and switching to employer health insurance? The main income would be unemployment after the severance is up, and would hence qualify for the subsidy.
Thanks in advance
Affordable Care Act...for now. It's best if you can keep your taxable income low (between 16.5K and 30K). For me it's a much better deal than I ever got at Honeywell.