The Money Mustache Community
General Discussion => Welcome and General Discussion => Topic started by: Optimiser on August 23, 2017, 10:52:20 PM
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Background: My employer provides health insurance for me at no cost. If I want to add coverage for my wife and children, I have to pay the full cost of their insurance. Buying insurance through my work for my wife and 2 kids is $1,000/month.
Currently we purchase insurance for my wife though healthcare.gov and my kids get free insurance through the state. We just reapplied for the kids insurance and due to our income (I assume), they no longer qualify.
Question: It is my understanding that because I have the option to purchase insurance for my wife and kids through my employer, we are not eligible for any subsidies. Is that correct? We are under the 4x federal poverty level threshold.
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http://www.bernardhealth.com/woofstreetjournal/bid/201910/Will-I-be-penalized-for-getting-a-subsidy-if-my-employer-offers-a-health-plan
According to everything I can find, subsidies are only offered based on if the plan offered through your employer is "affordable" (no more than 9.5% of your pay), but only takes into account the cost of the cheapest plan offered by your employer (which is generally just the individual plan).
http://healthcoverageguide.org/affordable-care-act/shared-responsibility-requirements/#How+does+an+employer+know+whether+the+coverage+it+offers+is+affordable%3F.