Recently married, covered CA
This year I’ve been paying a monthly premium through covered CA of around $11. This was with a tax credit of around $300 each month with my yearly income at $30,000.
After getting married and updating my application, adding my wife and her income of around $40,000/year the monthly premium for both of us shot up to at the cheapest $350/month. I’m confused on how this works. I’m aware that our income is legally more but it is for 2 people vs only me. Below is the chat I had with covered CA.
Can anyone shed some light on how this works?
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Brandy (10/22/2024, 3:53:01 PM): Okay now it looks right. refresh your screnn or log back in.
Me (10/22/2024, 3:53:14 PM): okay one sec
Brandy (10/22/2024, 3:53:33 PM): After you log in click choose a plan.
Me (10/22/2024, 3:54:36 PM): its still showing a monthly cost of 350-400
Brandy (10/22/2024, 3:54:48 PM): f your financial help amount is $0.00, it is because the cost of the standard plan in your area is less than the maximum monthly amount you are expected to pay for a health plan. It could also be because you have received all the financial help your household qualifies for this year.
Brandy (10/22/2024, 3:55:53 PM): Next year you qualify for $330.84 of credit.
Me (10/22/2024, 3:56:08 PM): last year it showed that amount for just me
Me (10/22/2024, 3:56:30 PM): I guess I just don't understand why it would be the same for 2 people
Brandy (10/22/2024, 3:57:43 PM): You are just now adding your spouse. Credit is calculated for the whole year. and then it subtracts what you already received. And you get the balance of that. But sometimes that amount is zero.
Me (10/22/2024, 3:59:04 PM): alright, so there's really nothing I can do for this year?
Brandy (10/22/2024, 3:59:23 PM): With the higher income you also no longer qualify for the enhanced silver plans.
Brandy (10/22/2024, 3:59:54 PM): No, You have used all the credit you were supposed to received based on the new income.
Me (10/22/2024, 4:00:30 PM): okay thank you. Can I turn off auto renew then? ill just take the tax penalty.
Brandy (10/22/2024, 4:00:33 PM): I can do that for you, one moment please.
Brandy (10/22/2024, 4:02:21 PM): I turned off auto renew but the 2025 renewal application is already submitted. You are not enrolled in a plan currently so nothing will auto enroll.
Me (10/22/2024, 4:03:11 PM): okay thank you. so just to be clear. will there be a time where our APTC amount would go up?
Brandy (10/22/2024, 4:04:12 PM): This is the amount you are eligible for 2025: $328.84 , the only way this number goes up is if income goes down or more members are added to the plan.
Me (10/22/2024, 4:04:38 PM): is it because I added another member too late that the amount didn't go up?
Brandy (10/22/2024, 4:05:06 PM): The amount didn't go up because you added another member and more income.
Brandy (10/22/2024, 4:05:31 PM): If you added a member and the income was the same 30K then it would probably go up.
Me (10/22/2024, 4:06:35 PM): okay. so if we had our own separate accounts then it would of been a much lower premium
Brandy (10/22/2024, 4:06:43 PM): Here is the link for shop and compare, play around with it. Put in different incomes and get estimates.
Brandy (10/22/2024, 4:06:55 PM): https://apply.coveredca.com/lw-shopandcompare/
Brandy (10/22/2024, 4:07:29 PM): If you are legally married, you cannot be on separate applications.
Me (10/22/2024, 4:07:53 PM): okay. so marriage kind of screws you with things like this?
Brandy (10/22/2024, 4:08:22 PM): I don't have an opinion about that.
Me (10/22/2024, 4:08:45 PM): alright thanks for your time Brandy
submitted by /u/DavidGECKO
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