ACA subsidy cliff now going away! Yay!

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LadyGeek
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Re: ACA subsidy cliff now going away! Yay!

Post by LadyGeek »

I merged aprilcpa's thread into the ongoing discussion.
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Rdytoretire
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Re: ACA subsidy cliff now going away! Yay!

Post by Rdytoretire »

Just went to Healthcare.gov and updated from my Bronze plan to a Silver plan at a lower cost due to additional subsidy. Looks like my Bronze plan will expire 4/30 and the Silver will be effective 5/1. I'm not sure if others are aware that they may need to do this to benefit from lower premiums thanks to the American Rescue Plan.
theplayer11
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Re: ACA subsidy cliff now going away! Yay!

Post by theplayer11 »

looks like my state won't allow plan changes. With a much higher tax credit, only makes sense to get a better plan, but not allowed.
fsrph
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Re: ACA subsidy cliff now going away! Yay!

Post by fsrph »

opus360 wrote: Sat Mar 20, 2021 7:53 pm
The COVID-19 relief law makes special considerations for people approved to receive or receiving unemployment compensation at any point in 2021.
In the quote above "receiving unemployment compensation" is easy to understand. But does anyone know how to interpret the term "approved to receive". I've been looking all over for an answer to this. Thanks.

Francis
"Success is getting what you want. Happiness is wanting what you get." | Dale Carnegie
Random Poster
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Re: ACA subsidy cliff now going away! Yay!

Post by Random Poster »

fsrph wrote: Wed Apr 07, 2021 7:49 am
opus360 wrote: Sat Mar 20, 2021 7:53 pm
The COVID-19 relief law makes special considerations for people approved to receive or receiving unemployment compensation at any point in 2021.
In the quote above "receiving unemployment compensation" is easy to understand. But does anyone know how to interpret the term "approved to receive". I've been looking all over for an answer to this. Thanks.

Francis
You can apply to receive unemployment and be approved for it, but never file a weekly (or biweekly) request for payment to actually receive unemployment pay. As in, applying for unemployment and being declared eligible for it from the state is a separate process from actually requesting and receiving unemployment payments.

That’s how I interpret it anyway.
fsrph
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Re: ACA subsidy cliff now going away! Yay!

Post by fsrph »

Random Poster wrote: Wed Apr 07, 2021 11:56 am
fsrph wrote: Wed Apr 07, 2021 7:49 am
opus360 wrote: Sat Mar 20, 2021 7:53 pm
The COVID-19 relief law makes special considerations for people approved to receive or receiving unemployment compensation at any point in 2021.
In the quote above "receiving unemployment compensation" is easy to understand. But does anyone know how to interpret the term "approved to receive". I've been looking all over for an answer to this. Thanks.

Francis
You can apply to receive unemployment and be approved for it, but never file a weekly (or biweekly) request for payment to actually receive unemployment pay. As in, applying for unemployment and being declared eligible for it from the state is a separate process from actually requesting and receiving unemployment payments.

That’s how I interpret it anyway.
Thanks R.P., that makes sense.

Francis
"Success is getting what you want. Happiness is wanting what you get." | Dale Carnegie
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