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Health Care Responsibility


Dave T

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I haven't had to deal with this yet so please forgive me if this has been discussed already.

 

Young couple get married in November 2014, both under 26.  Young man covered under parents policy then takes out policy through work in November.  In other words covered for the year.

 

Young woman didn't have insurance for first ten months and then gets policy through work ( same employer as husband ) In November.  Trying to compute the shared responsibility amount.

 

Her income was $ 20 k and his $ 27  K. 

 

Not sure if I'm working through 8965 correctly or not but it looks like the penalty is $ 248 which seems high.

 

Again, apologize for not having a better handle on this but just looking for some guidance.

 

Thank you.

 

Dave T

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Doesn't seem high to me. Penalty is the greater of $95 per person (47.50 for children) or 1% of income over the filing threshold. Filing threshold in your client's case is $20,300 (basically 2 exemptions of 3950 ea + std ded of 12400).  In your client's case, the excess over filing threshold is higher ~ $47K - 20300 = 267.  It would be prorated for the # of months without coverage, so it will be less than the full $267. It sounds like you are on the correct path.  Because they are so young with that level of income, I doubt they'd have any chance of saying the premiums are unafforable, but it wouldn't hurt to look up the premiums for the wife's age to check that.

 

Also, I'm moving the topic over to the ACA forum.

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