while you're still working you won't qualify for a tax credit if the employer's plan is considered affordable under the law. affordable employer health insurance costs no more than 9. 5% of your income and covers at least 60% of covered medical costs. health plans must now limit your annual out-of-pocket costs to $6 350 for an individual and $12 700 for a family. once you retire and are no longer an active employee you can buy a plan through the marketplace. depending on your income you may qualify for a tax credit to buy insurance through the marketplace.
i will retire this year at 62. my income will drop from $60 000 a year to $22 000. my current employer offers a health insurance plan similar to the silver plan for $150/month. can i save money by opting out of the employer plan and opting into the aca plan? what are my options? also is there a maximum out-of-pocket amount for the aca plans?