Edit for info:
Me: 28
Husband: 35
Zip: 66066
Together our total income was right around 22,000 last year. Will probably be higher this year? Time will tell, lol.
TIA for any advice. Sorry if I get ramble-y, Just want to make sure to note everything relevant.
My husband and I are fairly low income Millennials- we both work, but we both have disabilities (not ones that impact us to the point of government help beyond Vocational Rehabilitation, which my husband’s current job is through) that impact us strongly enough that we do not work a ton- for our own health.
My husband works a 32 hour workweek, I work a 24 hour workweek. The past few years we’ve relied greatly on the premium tax credit through the marketplace, and with our income we can get a very very good plan that pays for just about everything for only about $15 (Although plenty of plans are $0 to us) My husband increased his hours at work a couple of months ago, and we were eligible to receive benefits through his work. He signed up for the lowest cost plan, and immediately (obviously) take-home pay dropped by $300 a month, (yes, I get that’s not a lot to a lot of people- it’s huge for us) which is $200 more than his hourly bump gave us.
It’s my understanding that by his eligibility to receive benefits through his employer (by working 6 more hours a month) we no longer qualify for the premium tax credit, even though our income definitely more than qualifies us.
This is open enrollment week at his company, and what we are thinking is to speak to his boss, bring the hours back down to lose eligibility, (His bosses are really awesome, this shouldn’t be a problem) and regain our premium tax credit. The current insurance through his employer is the absolute bare minimum (But qualifies as enough by government standards) and absolutely sucks. We’re bleeding money in premiums and in medical bills, and working a few hours more a month absolutely does not make up for it. And simply working more hours isn’t feasible.
Basically my question is this: Does this work? Is it going to work the way we think it will? Or are we completely misunderstanding something here?
submitted by /u/Daintydeadthings
[link] [comments]Edit for info: Me: 28 Husband: 35 Zip: 66066 Together our total income was right around 22,000 last year. Will probably be higher this year? Time will tell, lol. TIA for any advice. Sorry if I get ramble-y, Just want to make sure to note everything relevant. My husband and I are fairly low income Millennials- we both work, but we both have disabilities (not ones that impact us to the point of government help beyond Vocational Rehabilitation, which my husband’s current job is through) that impact us strongly enough that we do not work a ton- for our own health. My husband works a 32 hour workweek, I work a 24 hour workweek. The past few years we’ve relied greatly on the premium tax credit through the marketplace, and with our income we can get a very very good plan that pays for just about everything for only about $15 (Although plenty of plans are $0 to us) My husband increased his hours at work a couple of months ago, and we were eligible to receive benefits through his work. He signed up for the lowest cost plan, and immediately (obviously) take-home pay dropped by $300 a month, (yes, I get that’s not a lot to a lot of people- it’s huge for us) which is $200 more than his hourly bump gave us. It’s my understanding that by his eligibility to receive benefits through his employer (by working 6 more hours a month) we no longer qualify for the premium tax credit, even though our income definitely more than qualifies us. This is open enrollment week at his company, and what we are thinking is to speak to his boss, bring the hours back down to lose eligibility, (His bosses are really awesome, this shouldn’t be a problem) and regain our premium tax credit. The current insurance through his employer is the absolute bare minimum (But qualifies as enough by government standards) and absolutely sucks. We’re bleeding money in premiums and in medical bills, and working a few hours more a month absolutely does not make up for it. And simply working more hours isn’t feasible. Basically my question is this: Does this work? Is it going to work the way we think it will? Or are we completely misunderstanding something here? submitted by /u/Daintydeadthings [link] [comments]Read Morer/HealthInsurance