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Tag: dependent

My 24-year-old daughter, who is working, lives near me and my spouse. We do not claim her as a tax dependent. She is eligible for premium tax credits and a cost-sharing reduction. We are not eligible for any subsidies, but we would all like to enroll in the same plan. Can we do that?

Written by Hummingbird Insurance on . Posted in Frequently Asked Questions.

You can all enroll in the same family plan, and your daughter can apply her premium tax credit to reduce her share of the premium for that family plan, but your daughter would lose her eligibility for cost-sharing reductions. If two individuals (or two separate households) qualify for different levels of cost-sharing assistance, or if one qualifies and the other doesn’t, and if they want to be covered under the same plan, they must select a plan that provides the level of cost-sharing reduction that they all would qualify for. In this case, since you do not qualify for any help with cost sharing, the three of you could only enroll together in a plan without cost sharing subsidies.

I’m under 26 and eligible to be covered as a dependent under my mom’s job-based policy. Mom no longer claims me as a tax dependent – I file my own taxes, though my income isn’t very high. If subsidized Marketplace coverage would be even more affordable to me can I sign up for that instead?

Written by Hummingbird Insurance on . Posted in Frequently Asked Questions.

Yes. Although the general rule is that people are not eligible for Marketplace subsidies when they are also eligible for affordable job-based health coverage, there is a special rule for young adults. As long as a young adult is not claimed as a tax dependent by her parents, the availability of dependent coverage under her parents’ health plan does not affect her eligibility for premium tax credits in the Marketplace.

I’m raising my grandchild and claim her as a dependent. If I apply for Marketplace subsidies, will we be considered a household of two?

Written by HummingbirdinsAdmin on . Posted in Frequently Asked Questions.

Yes, you will be considered as a household of two for both Medicaid and premium tax credits. However, your grandchild will be considered as her own household for Medicaid and CHIP and your income will not count in determining her eligibility for these programs. Assuming she does not have her own income she will likely be eligible for Medicaid or CHIP and not eligible for premium tax credits for coverage in the Marketplace. You could of course purchase coverage for her in the Marketplace but you would not be eligible for a premium tax credit to help pay for her plan.  Whether you could include her on your policy would depend on what insurers offer in your Marketplace.

My spouse and I have a teenage daughter who has a part-time job. Do we count her income as part of our household income when we apply for Marketplace subsidies?

Written by HummingbirdinsAdmin on . Posted in Frequently Asked Questions.

The answer depends on whether she earned enough income to be required to file a federal income tax return on her own. Generally, kids who qualify as tax dependents aren’t required to file a federal income tax return or pay taxes on their income if they earned less than a threshold amount ($12,000 in 2018.) If your daughter earned less than that, you would not count her income as part of your household income.

My kids are eligible for the Children’s Health Insurance Program. Can I enroll them in our Marketplace health plan and get premium tax credits for them instead?

Written by HummingbirdinsAdmin on . Posted in Frequently Asked Questions.

You can add your children to your Marketplace plan, but because they are eligible for your state’s Children’s Health Insurance Program (CHIP), they are not eligible for premium tax credits. The exception to that is if you live in a state that has a waiting period for enrolling in CHIP. During the waiting period, your children are eligible for a premium tax credit; when the waiting period has ended they can enroll in CHIP and will become ineligible for the tax credit.

We buy health coverage in our state Marketplace and our son attends college in a different state. We want to cover him on our policy. Can we do that?

Written by HummingbirdinsAdmin on . Posted in Frequently Asked Questions.

Yes, you can. One key consideration, though, will be whether he can access in-network services while he is away at school. Some insurers sell coverage in many states and offer a regional or national provider network. In addition, some health plans may have agreements with insurers in other states to cover their providers as though they were in-network. If you can’t find a plan that offers network providers in both states, you could consider buying a separate plan for your son.  You could also evaluate what out-of-network coverage, if any, your plan offers.

I’m 59, my spouse is 55, and our kids are 24, 17, 15, and 13. What age premium will we be charged for health insurance in the Marketplace?

Written by HummingbirdinsAdmin on . Posted in Frequently Asked Questions.

Family premiums will reflect the composition of family members, their ages and their tobacco use. To compute a “family premium,” insurers will add together a separate premium for each adult age 21 and older. In addition, insurers can charge a separate premium for up to three children under age 21. In your example, your family premium will reflect three adult premiums and three child premiums.