The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: savn455 on July 10, 2015, 03:16:22 PM
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I am looking to retire within a couple years. My wife is disabled and will be eligible for medicare part B for about $104 per month. I was going to pick up a bronze plan for myself at about $300 per month. Does anybody know how the subsities work in this situation?
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You wife will not be eligible for advance premium tax credits because she will have Medicare coverage. I assume she will have both Parts A and B.
However, you will potentially be eligible for the tax credits depending on your family income. If there are just the 2 of you in the household and your income is below $63,720 you might qualify for a tax credit. If there are just the 2 of you in the household and your income is below $39,825 you might qualify for cost sharing subsidies. If you qualify for cost sharing subsidies then you probably want to pick a *silver* plan because it will be the best deal. Only the silver plans include the cost sharing subsidies. It will make care very inexpensive if you need to go to a doctor.
For a look at what plans you can get, see: https://www.healthcare.gov/see-plans/
https://www.healthcare.gov/glossary/federal-poverty-level-FPL/
See for more info:
http://forum.mrmoneymustache.com/welcome-to-the-forum/information-on-the-affordable-care-act-with-a-focus-on-early-retirees/
https://seattlecyclone.com/optimizing-the-affordable-care-act/
http://rootofgood.com/affordable-care-act-subsidy/