Resident of Missouri. Turned 26 this month, coverage from my Mom’s employer will terminate on 11/30.
So, I did not make much money this year due to COVID and other reasons. My income for 2020 will come out to be much less than the poverty line. In 2018 and 2019, I made over 100% but much less than 400% of the poverty line.
As far as I understand, this means that I would not be eligible for a premium tax credit for December coverage through Healthcare.gov. However, if I know that I can make between 100% and 400% of the poverty line in 2021, I should be eligible for the premium tax credit in 2021, right?
Just trying to understand my options. Missouri approved Medicaid expansion, but it will not be implemented until July of 2021. So, no Medicaid and no premium tax credit means my cheapest option for December of 2020 would be a ~$270 catastrophic plan from Healthcare.gov. Or possibly use COBRA to extend my current coverage for a month, but from what I understand that would be probably be ~$400.
Is there anything I’m missing? Either I go uninsured for December, or I purchase an expensive and/or low-quality plan. Then come 2021, I should be able to receive a more affordable plan via Healthcare.gov if I can be sure that I will make enough in 2021.
Thanks for any input, just trying to figure it all out.
submitted by /u/juicefeathers
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Resident of Missouri. Turned 26 this month, coverage from my Mom’s employer will terminate on 11/30. So, I did not make much money this year due to COVID and other reasons. My income for 2020 will come out to be much less than the poverty line. In 2018 and 2019, I made over 100% but much less than 400% of the poverty line. As far as I understand, this means that I would not be eligible for a premium tax credit for December coverage through Healthcare.gov. However, if I know that I can make between 100% and 400% of the poverty line in 2021, I should be eligible for the premium tax credit in 2021, right? Just trying to understand my options. Missouri approved Medicaid expansion, but it will not be implemented until July of 2021. So, no Medicaid and no premium tax credit means my cheapest option for December of 2020 would be a ~$270 catastrophic plan from Healthcare.gov. Or possibly use COBRA to extend my current coverage for a month, but from what I understand that would be probably be ~$400. Is there anything I’m missing? Either I go uninsured for December, or I purchase an expensive and/or low-quality plan. Then come 2021, I should be able to receive a more affordable plan via Healthcare.gov if I can be sure that I will make enough in 2021. Thanks for any input, just trying to figure it all out.
submitted by /u/juicefeathers [link] [comments]Read Morer/HealthInsurance