Are health care plans based on income?

Question

I could be getting a raise soon but i need to get health care since im turning 26, If health care is based on income should I ask not to get a raise until after i find a plan or does it really not matter that much, Its only a dollar raise.

Answer 1

They are not based on income unless you get your insurance through the healthcare exchange.

Answer 2

Generally speaking, no.

Answer 3

Does not matter if you take the raise now or in the future, since when you file your taxes next year, then the (total) income you received for the time you got your own insurance to the end of the year, will be based on how much a subsidy you may or not qualify for.

In other words, say you get a policy this month and get a subsidy that is based on the lower wage, but after you get your raise, then when you file your taxes, then may end up paying more, or pay taxes since you (underestimated) your income for the subsidy.

Answer 4

The only part of the Obamacare plan that is based on your income is the amount of your subsidy, which you can have paid directly to the insurer or get as a tax credit next year.

Answer 5

Subsidies are based on income...health care is based on risk...just like auto insurance or homeowner insurance.

A health care plan is insurance, plain and simple. You may get it cheaper through a subsidy, but the rates are actuarially addressed with no reference to income.

Answer 6

The cost of the plan is not based on income.

However, if your income is very low then the government will pay part of that cost.

This subsidy is based on your taxable income that year, not on what your salary was at the moment you applied for health insurance. So there's no point in delaying your raise.

Answer 7

If you get the healthcare plan from work, no.

If you get it directly from an insurance company, no.

If you get it from a government program, yes.

If you get it from the "Obamacare" exchange/marketplace, and you qualify for a federal subsidy, then maybe -- depending on whether those subsidies still exist (with Trump, who knows?).

If you get it from the "Obamacare" exchange/marketplace, and you don't qualify for a federal subsidy, then no.

Answer 8

It is not based on income. It is a set amount for the plan.

Answer 9

no, it's not.

Answer 10

Health care plans are based on income. If you make over a certain amount you cannot get any kind of subsidy. If you make $1,000.00 less than what their crazy charts show, you get a large subsidy. It's very unfair, and I've been having to deal with this for far too long. I make just a little over the amount to not get a subsidy, and there's no way I can hide it.