Does anyone know if you use the marketplace to get a discount on your health insurance do you still get the $500 a month person retiree benefit from Ford?
3 replies (most recent on top)
Go to the healthcare.gov website. Enter your estimated income. They will tell you how much tax credit you will receive. You can then see prices for every available plan.
Yes. You can decline Fords HRA offer one year and use tax credits, and accept the HRA the following year and not use tax credits.
Help us to learn, if you can:
How low are you keeping your income?
Is it just you and spouse?
What plan did you select? (Silver-bronze-etc) Monthly premium/deductible?
And if one keeps income low one year, declines HRA, can one get HRA the next year if ones income is boosted for whatever reason?
Thanks
If your income qualifies you for tax credits on a market place plan, you can take the tax credits, OR use the $500 monthly HRA benefit from Ford. You cannot use the tax credits AND accept the Ford HRA money. This is double dipping and will get you into IRS trouble.
For reference, I declined the Ford HRA. I get more in tax credits since I'm managing to keep my income low.