Re:Why I'm in the Army Reserve – an explainer for my friends...
by PaulDavisThe1st on Monday April 04, 2022 @05:28PM
(#30912152)
> and subsidies disappear quickly with any amount of AGI.
This has not been true for 2021 and is not true for 2022.
Your payments for health insurance are limited by a cap that is hard to explain, but basically, you should not be paying more than 8.5% of your AGI for the 2nd most expensive silver plan in your state.
I (self-employed) have an AGI in the mid-100k range, and these subsidies more or less reduced my wife and my insurance payments by half.
This system still sucks - we are paying private corporations, via government subsidy, for their overpriced goods and services. But from a numerical perspective, it's much closer to being inline with most of the rest of the industrialized world: 8-14% of income for health insurance that covers most stuff.
And in all likelihood, Congress will not renew it at the end of this year.
This has not been true for 2021 and is not true for 2022.
Your payments for health insurance are limited by a cap that is hard to explain, but basically, you should not be paying more than 8.5% of your AGI for the 2nd most expensive silver plan in your state.
I (self-employed) have an AGI in the mid-100k range, and these subsidies more or less reduced my wife and my insurance payments by half.
This system still sucks - we are paying private corporations, via government subsidy, for their overpriced goods and services. But from a numerical perspective, it's much closer to being inline with most of the rest of the industrialized world: 8-14% of income for health insurance that covers most stuff.
And in all likelihood, Congress will not renew it at the end of this year.