My wife and I are both quitting our jobs to take a "Gap" year where we plan to do some traveling, potentially explore other career opportunities etc. We are DINKs (dual income, no kids) in mid-30's. Our income is going to drop substantially beginning in July/August. However, we made a good amount of money in the first 6 months of 2015 (100K+ pretax). Will this income disqualify us for Obamacare subsidies for 2015 since we are likely way over the 400% poverty line threshold? Or are the subsidies based on a month to month basis (since we will have very low income for the remainder of 2015)? Our coverage will extend through 8/31 with my company due to accrued vacation time, etc. so it's not that big of a deal, but I'm in New York where the premiums are pretty high for almost any insurance plan.
I think the answer is that we won't qualify, but I just want to make sure. Depending on how long our gap year lasts we may qualify for 2016, I suppose.
Any other comments/suggestions are welcome :-)
Thanks!
