Quote:
Originally Posted by Mosaud1998
Alright, I got this figured out. So, the plans are based on my income. I just started a new job and can't enroll in the health insurance plan until I am employed for 3 months. So, I need insurance for 3 months. After the 3 months, I am going to cancel the insurance plan with Blue Cross Blue Shield and get onto the employer's health plan.
The agent asked me what I think I will make in 2024. I told him 20k (but I'll make around 20k in 3 months. I only need a plan for 3 months). So, I was able to get on a "Cost-sharing reduction" plan where the government gave me an estimated saving of $334. That's how the premium went from $335.45 to $21.45. The same goes for the deductible. The deductible went from $4,400 to $0.
I posted a screenshot with a $20,000/year income and $61k/year income. of the same plan.
I think I am going to say my income for 2024 is $20k. Take the $21.45/plan and make use of it for 3 months. After I enroll on my employer's plan, I'll cancel the Blue Cross Blue Shield plan.
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Maybe I'm wrong but I think the income is based on yearly income... not on what you make while you have the insurance. So at the end of the year if you made more than the $20k you are claiming (for the whole year) I believe you would owe some of that subsidy money back.
