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View Diary: Why is nobody talking about the OTHER Obamacare subsidy? (178 comments)

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  •  Slight point of contention with you here: (6+ / 0-)

    When you state:

    For income above $94,000 there is no subsidy.... but I don't have a lot of sympathy for people in that income bracket.
    Two things I want to mention first:

    1. In no way am I trying to derail the point of your diary, which is why I tipped/rec'd it (because I agree with everything else).

    2. I'm not arguing because I want anyone's sympathy

    With that being said, the bottom line is private health care insurance sucks for anyone on any income level. It has continually gone out of control with higher premiums and ridiculous deductibles and copays. Again, I'm not one to garner sympathy because my wife and I make a combined $95,685 income according to our tax sheet last year, but you add up $15,000/yr in daycare for 2 kiddos, $14,000/yr in mortgages, $10,000/yr in student loans for at least 8-13 more years, weekly food, gas (my wife commutes to work out of town), utilities, and so on - my point is the shit adds up quickly, and the amount we've got left is not as much as some would believe with the income we have.

    All this after we've cut as many corners as heavenly possible after we've worked with our fee-for-service financial advisor in the past 3 years.

    The ACA is good, but it doesn't go far enough to help us (though it does indirectly help us by lowering overall costs in the long run). Universal healthcare is the only option.

    Lawrence, KS - From ashes to immortality

    by MisterOpus1 on Fri Nov 22, 2013 at 11:42:19 AM PST

    •  I accept your point - you changed my mind (4+ / 0-)

      and as I think back, my wife and I crossed the $95,000 line about 10 years ago when we had 4 kids living at home (all teenagers at the time, no less!) and we certainly didn't consider ourselves 'well off'. I guess I need to revise my 'doing OK' standard upwards.

      The worst thing about being at your precise income level, MisterOpus1, is that the subsidy cutoff at 400% of poverty level is a cliff. Example (from the Kaiser calculator)

      94,200           $3,486
      94,201           $0

      So in your situation, anything you can possibly do to get your MAGI down by about $1,500 would be worth it, like.....

      contribute an extra $1,500 to your IRA or 401k, even if you have to take it back out later

      buy a couple of dogs to breed, take a business loss

      As long as it's recorded on the first page of the 1040 form, in general terms, it's good.

      I do believe this subsidy should just phase out gradually, stopping at..... geez, maybe $125,000?

      Of course, now I'll hear from someone making that amount, right?


      Against stupidity the gods themselves contend in vain. Friedrich Schiller

      by databob on Fri Nov 22, 2013 at 01:44:02 PM PST

      [ Parent ]

      •  Good points, but unfortunately (2+ / 0-)
        Recommended by:
        worldlotus, raincrow

        our income for our 2013 return will be a few thousand higher due to my raise (my wife didn't get a raise, meh). We talked about these issues with our financial advisor, and we're currently working on some of the solutions similar to what you stated.

        Anyway, thanks for responding!

        Lawrence, KS - From ashes to immortality

        by MisterOpus1 on Fri Nov 22, 2013 at 05:50:31 PM PST

        [ Parent ]

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