obamacare

[davew128]

It's almost like it is a bad law with a ton of unintended consequences where the intended consequences keep getting rounded down based on results.

You'd almost think they didn't read the law before voting to pass it.

 

[Eekamouse]

Oh no. I'm pretty sure I really screwed up. I gota bundle of paperwork about choosing obama insurance last month when I was unemployed and knew I would qualify for it but then I got a job working for Costco and figured I probably won't qualify now and it is sooooooo friggen' confusing that I could not make heads nor tails out of all the forms and who to choose for an insurer that I've left the paperwork undone. I won't qualify for any insurance working for Costco for quite a while (if I am kept past the holidays. My fingers are crossed so tight that they hurt regarding that point) so now I don't know what I should do. I think I went past the stupid deadline on the paperwork and like I said, I could not figure out how the heck I was supposed to chose one of about a zillion different options. I am totally screwed.

 

[TinkerBelleLuvr]

Open enrollment that starts 11/15 is for it starting 01/2015. It doesn't help you with the present Mouse.

I am curious about something. Is the 1095 sent to person who provides the coverage (think NCP parent) for a dependent who does not live with them? The insurance companies don't have the addresses of those children. I know that my daughter's father provides her coverage - don't know if he will past this year even though daughter is free for him. If he does, I know he wouldn't send info to kiddo - he's peeved that she won't move back up to the frozen north. Where does that leave kiddo? She will most likely have insurance but no proof that she does. I can't afford to put her on mine - his is better and mine would cost a small fortune to put her on mine. Mine is relatively cheap just for me.

 

[LdiJ]

Open enrollment that starts 11/15 is for it starting 01/2015. It doesn't help you with the present Mouse.

I am curious about something. Is the 1095 sent to person who provides the coverage (think NCP parent) for a dependent who does not live with them? The insurance companies don't have the addresses of those children. I know that my daughter's father provides her coverage - don't know if he will past this year even though daughter is free for him. If he does, I know he wouldn't send info to kiddo - he's peeved that she won't move back up to the frozen north. Where does that leave kiddo? She will most likely have insurance but no proof that she does. I can't afford to put her on mine - his is better and mine would cost a small fortune to put her on mine. Mine is relatively cheap just for me.

Yes, the 1095 is sent to the person who provides the coverage. It won't be a big problem for you for 2014, because you can just check the button that says that you and your dependents are covered by health insurance. It will however be a problem for you for 2015. You won't be able to file a return claiming her as a dependent without the 1095.

 

[LdiJ]

Oh no. I'm pretty sure I really screwed up. I gota bundle of paperwork about choosing obama insurance last month when I was unemployed and knew I would qualify for it but then I got a job working for Costco and figured I probably won't qualify now and it is sooooooo friggen' confusing that I could not make heads nor tails out of all the forms and who to choose for an insurer that I've left the paperwork undone. I won't qualify for any insurance working for Costco for quite a while (if I am kept past the holidays. My fingers are crossed so tight that they hurt regarding that point) so now I don't know what I should do. I think I went past the stupid deadline on the paperwork and like I said, I could not figure out how the heck I was supposed to chose one of about a zillion different options. I am totally screwed.

The exchange opens back up again on November 15th for open enrollment. So you can still apply for 2015.

 

[doli981]

What is the name of your state (only U.S. law)? NA for this thread.

Today I did a CE seminar about the nuts and bolts of the tax changes as they pertain to Obamacare. By nuts and bolts I am talking about what and how things have to be reported on tax returns.

For about 80 to 85% of taxpayers its as simple as checking a box saying that everybody in your family had insurance for the whole year...at least for 2014. For the rest of the taxpayers its ugly...and for 2015 and forward for everybody else its also ugly.

And its really, seriously ugly for divorced and separated parents who trade off tax exemptions for the children...and obtain insurance on the exchange.

Did they cover any info on employer reimbursements to >2% shareholders of S-Corps. There are more questions than answers when it comes to this point.

 

[LdiJ]

Did they cover any info on employer reimbursements to >2% shareholders of S-Corps. There are more questions than answers when it comes to this point.

No, that particular issue wasn't addressed. However, any insurance purchased with a reimbursement from an employer, whether you are a less than 2% working shareholder or not is going to be treated as private insurance. For 2014 that means just checking a button. For 2015 and on that means entering a 1095 issued by the insurance company.

 

[TinkerBelleLuvr]

Yes, the 1095 is sent to the person who provides the coverage. It won't be a big problem for you for 2014, because you can just check the button that says that you and your dependents are covered by health insurance. It will however be a problem for you for 2015. You won't be able to file a return claiming her as a dependent without the 1095.

Why wouldn't I be able to claim her as a dependent? I provide over half her support and she is a student. The only thing that will happen, if my DD is still in dad's good graces would be that dad continue to cover her under his insurance. His insurance is through an Indian tribe and is better than most. Whether he chooses to mail her , or not, whatever form does not mean she doesn't have insurance. I mean I don't mail anything now when I file electronically - are they suddenly going to start requiring us to mail pieces of paper? I was going to say that is not logical, but I am talking the government here. He has made no indications on his intent for next year.

 

[LdiJ]

Why wouldn't I be able to claim her as a dependent? I provide over half her support and she is a student. The only thing that will happen, if my DD is still in dad's good graces would be that dad continue to cover her under his insurance. His insurance is through an Indian tribe and is better than most. Whether he chooses to mail her , or not, whatever form does not mean she doesn't have insurance. I mean I don't mail anything now when I file electronically - are they suddenly going to start requiring us to mail pieces of paper? I was going to say that is not logical, but I am talking the government here. He has made no indications on his intent for next year.

That is what I mean by this thing changing the whole dynamics of dependents. Its not that you wouldn't qualify to claim her as an exemption. Its that you won't have the necessary info to do so.

You cannot enter the info from the 1095 without having it in front of you (the info is too detailed and there is too much of it). You cannot file a return unless you have the 1095 for every person (or are willing to pay the high penalties for no insurance for 2015 for that person). The only potential "out" is if you can claim an exemption from insurance for that person.