In Phoenix, AZ, a 30-yr old single parent w/one child earning $30K/yr could go from paying $0 in premiums to $99/month...technically an infinite increase. In Boise, ID, a family of four earning $60K/yr could go from paying $85/mo to $311...a whopping 3.7x as much as they pay today.
And in Montgomery, AL, a 64-yr old couple earning $90K/yr, just one year out from being eligible for Medicare, could see their net premiums skyrocket from $637/mo to a jaw-dropping $3,186/mo...for the SAME POLICY. That'd be 43% of their gross income. 👀 acasignups.net/ira-subsidy-...
(And yes, my own family is among those who’re about to be royally screwed by this here in Michigan.) FWIW, if you find my healthcare wonkery useful & would like to support it, you can do so here, thanks! secure.actblue.com/donate/acasi...
Wouldn’t higher income make premiums more difficult to pay?
The subsidies drop off less than your income goes up...at least this year. I'll have to check on the impact next year, but it's not a strict $1 to $1 ratio.
Here's Kentucky as an example; look at the "Nuclear Family." At $70K/yr they're paying $173/mo this year & would pay $436/mo next year. At $80K/yr it would jump to $575/mo for the same plan...which is $4,824/yr more than they're paying this year. So they'd earn $10K more & pay $4,800 more.
Now, where it WOULD be a problem is if the extra income tipped them just barely over the 400% FPL threshold (ie, from $120K in 2025 to $130K in 2026), in which case they'd immediately see their premiums skyrocket from $812/mo to $1,928/mo. That'd be $13,392 more next year w/$10,000 higher income.
Gross income or adjusted gross income?
Modified Adjusted Gross Income: www.healthcare.gov/glossary/mod...
Thank you! This is extremely helpful.
Well, it’s still true that they plan to torch healthcare and blame Democrats for the ashes though. And the public doesn’t even know who was president when COVID started or why there was inflation so them realizing that the increasing pain actually started before the midterms is honestly unlikely.
JFC
Happy to support you, Charles.
We are in terror as a two-earner one kid household where we almost hit the ACA cliff once before it was shaved. Concerned next year’s will be entirely unaffordable unless we intentionally earn below a target range.
Yep. Which state?
WA.
WA is looking at roughly 20% gross hikes on avg. I still have to update the net rate examples: acasignups.net/rate_changes...
That is far better than I hoped.
Well…here’s my original analysis of the net rate impact…I still have to update it: acasignups.net/ira-subsidy-...
In the same boat terrifying
📌
Whoa Charles Gaba! That was a lot of work to enlighten Dems on this site. Many many thanks!