I can keep my Obamacare right? Minimum Essential Coverage calculation for 2024 & 2025 below:

My 2024 annual salary = $21,330

My 2025 annual salary = $35,500

My employer's cheapest ACA compliant plan is $236.19/month. For 2024, the ACA defines MEC as a plan that's affordable if the employee's cheapest self-only coverage doesn't exceed 8.39%.

8.39% of my 2024 salary: ($21,330×0.0839 = $1,789.79)

Annual cost of cheapest employer plan: ($236.19×12 = $2,834.28)

Since $2,834.28 (annual premium) is greater than $1,789.79 (affordability threshold), the plan does not meet the 2024 ACA affordability threshold.

For 2025, assuming the 8.39% threshold maintains,

if the health plan meets the 2025 ACA affordability threshold of 8.39% for an annual salary of $35,500:

8.39% of 35,500 salary: (35,500 × 0.0839 = $2,978.45)

Annual premium for the health plan: ($236.19 × 12 = $2,834.28)

Since $2,834.28 (annual premium) is less than $2,978.45 (affordability threshold), the plan DOES meet the 2025 ACA affordability threshold.

View Poll

submitted by /u/Lock3tteDown
[comments]