aggregate self-only coverage considered unaffordable
Aggregate self-only coverage considered unaffordable-Two or more family members' aggregate cost of self-only employer-sponsored coverage exceeds 8 percent of household income, as does the cost of any available employer-sponsored coverage for the entire family. Coverage under an employer plan is considered unaffordable for a part-year period if the annualized premium for self-only coverage (in the case of an employee) or family coverage (in the case of a related individual) under the plan for the part-year period is more than 8% of your household income. Coverage is considered unaffordable-The minimum amount you would have paid for employer-sponsored coverage or a bronze level health plan (depending on your circumstances) is more than 8 percent of your actual household income for the year as computed on your tax return. For a coverage exemption that you qualify to claim on your tax return, all you need to do is file Form 8965, Health Coverage Exemptions, with your tax return. You do not need to call the IRS or obtain the exemption in advance. During 2014, Joyce could purchase self-only coverage through her employer at a total cost to her of $5,000. As a result, Joyce can claim the exemption for unaffordable coverage because her required contribution ($5,000) is more than 8% of her household income ($4,800, which is $60,000 multiplied by .08). Yes, but if the wife's good job offers a family plan and they didn't have too much household income, then the child would qualify for the coverage exemption listed under Aggregate self-only coverage considered unaffordable on page two of the instructions for form 8965. Yes, but if the wife's good job offers a family plan and they didn't have too much household income, then the child would qualify for the coverage exemption listed under Aggregate self-only coverage considered unaffordable on page two of the instructions for form 8965. Originally Posted by David1980. ... The required contribution for Lee, Elizabeth, and Emilee is Susan's share of the cost for family coverage ($12,000), which is more than 8% of their household income ($7,200). As a result, Lee, Elizabeth, and Emilee are eligible for the exemption for unaffordable coverage for 2014. In the workplace coverage is only unaffordable if the employee only premium (not the families) exceeds 9.5% (and meets other minimum requirements, making it comparable to a bronze plan on the marketplace). FACT: 9.5% of household income, for self-only coverage, is affordable in the workplace. FACT: 9.5% of household income, for self-only coverage, is affordable in the workplace. 8% of household income, for self-only coverage, is Affordable in the Health Insurance Marketplace. This does mean that coverage can be affordable by one standard and unaffordable by another.
Yes