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Old 07-07-2012, 08:37 PM  
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Quote:
Originally Posted by YelloJeep

Let me get this straight.... If I am in a household of 4 and make less than $92,000 dollars I am eligable for subsidies? (http://aspe.hhs.gov/poverty/12poverty.shtml/) So, in other words over 95% of the population is eligable for "subsidies"? (http://en.wikipedia.org/wiki/Househo..._United_States)
Oh good grief.
1. If you are the sole breadwinner, yes. You are eligible for a tax credit.
2. The more you make, the lower your tax credit. At 400% of the poverty level, it won't be much.
3. I'm on my phone and can't verify your numbers, but the data I saw said less. Far less. I'll check up on it when I'm home.
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Old 07-08-2012, 12:01 PM  
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Originally Posted by YelloJeep View Post
Let me get this straight.... If I am in a household of 4 and make less than $92,000 dollars I am eligable for subsidies? (http://aspe.hhs.gov/poverty/12poverty.shtml/) So, in other words over 95% of the population is eligable for "subsidies"? (http://en.wikipedia.org/wiki/Househo..._United_States)
Oh good grief.
It's a wonder that this nation is not deeply in debt!
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Old 07-08-2012, 01:14 PM  
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http://bingaman.senate.gov/policy/crs_privhins.pdf

Page 20 of the printed document (page 24 of the PDF) outlines how Premium Credits and Cost-Sharing Subsidies will be allotted.

1. Medicare coverage will be expanded to all citizens and certain legal aliens up to 133% of poverty level. If you're eligible for medicare, you're ineligible for any sort of tax credit.

2. Based on your income level below 400% of the poverty rate, there is a maximum out-of-pocket expense for premium payments. Using the ~92k number and a family of 4, you will be responsible for $8,379 of annual premium payments yourself, or just a couple bucks under $700/month. If you choose a more expensive plan, you are responsible for the additional premium payments as well.

3. No, 95% is not eligible for subsidies. It appears that you somehow determined that 92k was 400% of the FPL, then somehow determined that 95% of households earned less than 92k. What you failed to realize was that 92k for a household of 1, 2, or 3 people was far greater than 400% of the poverty line.

Nationally, 68% of people are living under 400% of the poverty line. http://statehealthfacts.org/compareb...&sub=2&rgnhl=7

Of those 68%, only those who cannot purchase a silver-level plan for less than their level of responsibility will be eligible for any sort of subsidization, so subsidies will be paid to far less than 68% of the population.
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Old 07-09-2012, 06:22 AM  
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Originally Posted by rivalarrival View Post
.... No, 95% is not eligible for subsidies. It appears that you somehow determined that 92k was 400% of the FPL, then somehow determined that 95% of households earned less than 92k. What you failed to realize was that 92k for a household of 1, 2, or 3 people was far greater than 400% of the poverty line.
I can tell you how I came up with the number:

According to http://aspe.hhs.gov/poverty/12poverty.shtml/ "..the 2012 poverty guideline for the 48 contiguous states and the district of columbia for a household/family of 4 is $23,050."
Okay, so "400%" of that is going to be $92,200 dollars right?
Okay, now I did make an error on my part on the percentage of the population that qualifies for "subsidies". I was looking at an older chart, and my mistake was not thinking it through and the 95% is accurate only for the percentage that DO NOT make between $92,500 and $94,999 (duh..).
For that, I do apologize. Still, $92,200 is a pretty large income to me. That's around twice what I make (family of 4 soon to be 5)...
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Old 07-09-2012, 12:18 PM  
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Kent, Ohio
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Quote:
Originally Posted by YelloJeep View Post
I can tell you how I came up with the number:

According to http://aspe.hhs.gov/poverty/12poverty.shtml/ "..the 2012 poverty guideline for the 48 contiguous states and the district of columbia for a household/family of 4 is $23,050."
Okay, so "400%" of that is going to be $92,200 dollars right?
Okay, now I did make an error on my part on the percentage of the population that qualifies for "subsidies". I was looking at an older chart, and my mistake was not thinking it through and the 95% is accurate only for the percentage that DO NOT make between $92,500 and $94,999 (duh..).
For that, I do apologize. Still, $92,200 is a pretty large income to me. That's around twice what I make (family of 4 soon to be 5)...
The first part looks accurate. I'm not sure what error you're describing, but it's pretty simple: A family of 4 would need to earn ~92k to put them at 400% of the federal poverty level. A family of 8 would need to earn $155,560 to put them above 400% of the FPL.

I'm sorry if I misstated it when I first mentioned it, but this 400% line is just one of several criteria for determining if one is eligible for a tax credit. Another criterion is percentage of income spent on insurance. At 400%, you would have to spend over (IIRC) 9.5% of your income on a specific level (second-lowest cost) of insurance to qualify for the tax credit.

There are several similar lines for lower income levels. I think they change at 300%, 200%, and 133%, but I can't be arsed to look it up right now, I've got to get to work.
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