This year as we approach the Affordable Care Act, a new question we will be asking when you are signing up for health insurance is about how much you earn. The reason to ask this now is that the Health Insurance Exchange starting in October 2013 for signup will have subsidies to help you pay for health insurance. If you earn less than 400% of the poverty level, you will qualify for assistance. The affordable care act has also increased the limits for qualifying for Medicaid. The question will as well be important for you if you decided not to have health insurance as it will be used to calculate your penalty. The times are changing, so do not be surprised if your insurance agent asks about your earnings. They are looking to ensure you can save on your health insurance premium. I found this story in the LA Times.
Tax help comes with health insurance advice – Los Angeles Times.
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