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Fixing the ACA "Family Glitch"

Family Glitch Fixed

IF you have a Family
AND if you receive Employer based/Group Insurance
AND if that is "Affordable" for YOU as an employee only
AND that plan was NOT affordable for the whole family
NOW you have New Options for your family
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Starting November 1, Compare your employer plan with a Marketplace Plan with subsidies.  You may SAVE THOUSANDS or DOLLARS. We can review options for your family’s premium subsidies and coverage through the Health Insurance Marketplace and all the insurance companies we represent in North Carolina.

More Time To Enroll

Families looking to potentially save some money by coming off an employer insurance plan have more time to make their choice. The Health Insurance Marketplace has extended the deadline to February 10th, 2023 for any families looking to make a move. 
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2023 ACA Checklist
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What we need to get started:

  • ​You and family members: Name, Dob, Zip code
  • Income for each wage earner in the family- esp for the person with employer coverage.
  • TOTAL Family income estimate for 2023 -  line 11 on your 1040, MAGI (Modified Adjusted Gross Income)
  • COMPLETE 2023 “Employer Coverage Tool"  HERE  (email completed forms to dtroutinsurance@aol.com)
  • KEY Information
  • How much would the employee pay for YOURSELF ONLY
  • How much would the employee pay for ENTIRE FAMILY  
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Family Glitch Calculator Tool

Click HERE to discover if you may be eligible for cost savings. If not, we may have other options. ​

Family Glitch Example:

Paul and Lisa are married, have two children and will file a joint tax return. Lisa is offered coverage  through her employer, Acme Anvil, Inc., and that coverage extends to Paul and the children.
  • All plans offered by Acme Anvil Inc. meet the minimum value standard.
  • Paul is not offered coverage through his employer.
  • Paul and Lisa have an annual household income of $ 75,000. 
  • The lowest-cost plan offered by Acme Anvil Inc. that would cover Lisa only has a premium of $100 per month. 
  • ​The lowest-cost plan offered by ABC Inc. that would cover Paul and Lisa and children has a premium of $600 per month
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​For 2023, we still use the self-only premium for Lisa, but the family premium for Paul & kids.  Lisa remains ineligible for APTC since $100 is less than 9.12 percent of the couple’s income. However, Paul & the kids are now eligible for APTC since $600 is more than 9.12 percent of their income (75,000 x .0912= $570)  which means Paul’s offer is considered unaffordable. 
​Let’s say that Lisa and Paul are both 45 and the children are 10 and 11 years old. They live in Buncombe county NC. 
 
The Premium discount / Marketplace subsidy would be $ 1,079 monthly for Paul & the kids. Remember Lisa is still covered on the group. Lisa has Silver Plan.  

A quick look at 2023 Plans:
     * Bronze - ZERO Premium
     * Silver - $320 - $450
     * Gold - $400 - $500 

If you are offered  a "Bronze Plan" - you may save THOUSANDS of Dollars Annually!
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Background: 

Briefly since 2014, employer coverage is deemed “affordable” if the cost for employee-only coverage would be less than 9.61% of household income. BUT NOT the premium for the whole family.   And these family members were NOT eligible for premium subsidies thru the Marketplace.  They had to pay the full price of employer plan or the ACA plan or some other coverage options .
 
On Tuesday, Oct 18, 22, The Biden Administration announced: If a family has to pay more than 9.12% in 2023 of household income for the employer plan, they “MAY"  be eligible for premium tax credits in the Marketplace.
 
Wow -  This is A Big  *#%*#@  Deal, As then VP Biden famously said in 2010. 

Watch Dave Trout on WLOS cover the "Family Glitch" - CLICK HERE

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Get Enrolled For 2023
Trout Insurance Services

Monday-Friday
9:00am-5:00pm & by Appointment


​Visit: 29 N Main St
Weaverville, NC 28787
     
Mail: PO Box 1414     
Weaverville, NC 28787  
Ph: 828.279.4681
​
Fax: 1.888.221.4842
​

contact@troutinsurance.com
Trout Insurance is an Independent Insurance Agency Based in WNC. 
Privacy Notice Statement  | Privacy Policy
“We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or call 1.800.Medicare to get information on all of your options.”
Trout Insurance is an independent authorized agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina (Blue Cross NC). The content contained in this site is maintained by Trout Insurance. Blue Cross and Blue Shield of North Carolina is an independent licensee of the Blue Cross and Blue Shield Association. ®, SM Registered marks of the Blue Cross and Blue Shield Association.”
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  • Insurance
    • Home & Auto Insurance
    • Medicare
    • Income Protection >
      • Disability Insurance
      • Long-Term Care
      • Critical Illness
      • Annuities
    • AARP - Hartford
    • Life Insurance
    • Health Insurance
    • Dental and Vision
    • Employee Benefits
    • Business Owners >
      • Group Health Insurance
      • Commercial Property & Liability
      • Business Overhead Expense Disability
      • Disability for Business Owners
      • Critical Illness
    • Short Term Health
  • Trout Team
    • Our Story
    • Dave Trout
    • Jessica Cody >
      • Home & Auto Insurance
    • Jeremy Sheridan
    • Robert Pugh
    • David Hanson
    • Jennifer Trout
    • Idelle Davids
    • Jan Trout
    • Steve Dillingham
  • Resources
    • Employee Success
    • Fixing the ACA "Family Glitch"
    • Aetna/CVS Health NC
    • Client Center
    • Reviews
    • Blog
    • Articles >
      • Health Insurance 2022
      • Friday Health
      • Comparing 2022 Plans
      • Insurance Partners
      • Best Value Insurance Plans
      • ARP Facts CMS
      • ARP Unemployment
      • ARP 2020 Excess Premium Subsidy
      • No Income Cap
      • Unemployment Glitch
      • Asheville Homesharing
      • 2019 Verification-a
      • BCBS Online Setup
      • APTC Income 2023 & Tax Form 1040
      • Lost Subsidy
      • Privacy Policy
  • Community
    • Alignment's 5-Star Switch
    • Employer Networking w/ Just Economics
    • FALLing with Families
    • Medicare New Era Event October 13th
    • Blue Ridge Pride Festival
    • Health & Wellness Fair
    • Goombay & YMI
    • Alignment Health Plans
    • YMI Winter Coat Drive
    • Medicare Seminar
    • Art in Autumn + MANNA
    • Music on Main
    • Western Women's Business Center Conference
    • Mural on Main Street
    • Expanded Team- Next Generation
    • Back to School
    • Weaverology
    • Mother Earth Food
  • Contact Us