one-eye-owl OP t1_je80ae0 wrote on March 30, 2023 at 1:55 AM

Reply to comment by sir_richard_head in My husband and I owe 22k in taxes but we only made a combine total of 75k by one-eye-owl

i believe it is a 30-50 person company and he does work full time. They offer insurance but for the last few years it was cheaper through the market place.

itackle t1_je837py wrote on March 30, 2023 at 2:18 AM

That could be it. You don’t qualify for a subsidy if your employer, or spouses employer, offers a suitable plan. I don’t remember the specifics of the plan, but a good chance that’s it.

i_identify_as_natty t1_je8a71e wrote on March 30, 2023 at 3:15 AM

Would that really add up to 25k or even 20k though?

last_rights t1_je8dgpa wrote on March 30, 2023 at 3:44 AM

It could. Each of my family members is $550 a month on the marketplace, and we are all fairly young and in good shape. My roommate is $1200 monthly but qualifies for Medicaid instead because she is retired.

Andrew5329 t1_je8hy97 wrote on March 30, 2023 at 4:28 AM

For a full family plan? Easily. I'm on an individual HSA plan and my employer's contribution alone is $9,250, plus my personal contributions of about $1200/year.

If OP is eating the entire unsubsidized cost of a family plan $20-25k is possible. It's also likely the subsidy repayments are only part of the bill, e.g. if they didn't pre-pay enough taxes in advance since OP was self employed.

prodiver t1_je8mcnj wrote on March 30, 2023 at 5:15 AM

> Would that really add up to 25k or even 20k though?

By itself, no.

But the 25k would be the subsidy repayment, plus income tax on 75k income, plus self employment tax on OP's 11k income.

All that added together could easily be 25k.

rkalo t1_je8fosk wrote on March 30, 2023 at 4:05 AM

Monthly premiums for two people would easily be 1k a month, that's just for coverage. OP shed light that they went through cancer treatment so I believe it.

Andrew5329 t1_je8j4ti wrote on March 30, 2023 at 4:40 AM

That doesn't affect individual rates anymore. The insurance can charge your company a higher or lower rate than mine, but within our respective company "pools" everyone gets offered the same plans/rates.

It's one of the biggest drivers for corporate outsourcing. High wage workers demand a high quality health plan. On a $100k base the expense for a $25k plan makes sense. On a $35k salary, not so much , so now those people work for 'Facilities Mgmt LLC' which does the same non-core work but only has crappy benefits.