Alabama is not expanding Medicaid which means the poor will have to pay for their insurance or pay the penalty. OR OPT OUT. •If you live in a state that isn’t expanding Medicaid you may not qualify for either Medicaid or reduced costs on a private insurance plan. It will depend on where your income falls. •If you make less than about $11,500 a year as a single person or about $23,500 for a family of 4, you may not qualify for lower costs for private insurance based on your income. So in other words since Alabama is not expanding Medicaid there will be not discounts . Which means most people will opt out or pay the penalty. OPT OUT RULES ....If you can afford health insurance but choose not to buy it, you must pay a fee known as the individual shared responsibility payment. The fee in 2014 is 1% of your yearly income or $95 per person for the year, whichever is higher. The fee increases every year. In 2016 it is 2.5% of income or $695 per person, whichever is higher. In 2014 the payment for uninsured children is $47.50 per child. The most a family would have to pay in 2014 is $285. You make the payment when you file your 2014 taxes, which are due in April 2015. If you have any of the circumstances below that affect your ability to purchase health insurance coverage, you may qualify for a “hardship” exemption: 1.You were homeless. 2.You were evicted in the past 6 months or were facing eviction or foreclosure. 3.You received a shut-off notice from a utility company. 4.You recently experienced domestic violence. 5.You recently experienced the death of a close family member. 6.You experienced a fire, flood, or other natural or human-caused disaster that caused substantial damage to your property. 7.You filed for bankruptcy in the last 6 months. 8.You had medical expenses you couldn’t pay in the last 24 months. 9.You experienced unexpected increases in necessary expenses due to caring for an ill, disabled, or aging family member. 10.You expect to claim a child as a tax dependent who’s been denied coverage in Medicaid and CHIP, and another person is required by court order to give medical support to the child. In this case, you do not have the pay the penalty for the child. 11.As a result of an eligibility appeals decision, you’re eligible for enrollment in a qualified health plan (QHP) through the Marketplace, lower costs on your monthly premiums, or cost-sharing reductions for a time period when you weren’t enrolled in a QHP through the Marketplace. 12.You were determined ineligible for Medicaid because your state didn’t expand eligibility for Medicaid under the Affordable Care Act.
Posted on: Tue, 03 Dec 2013 13:49:26 +0000
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