I'm thinking I actually like the Supreme's decision, re ACA

[PhilFish]

i didnt say i was making catchup.. i was responding to..

 

[PhilFish]

exchanges... cant refuse.. all that..

anyhoo.. maybe a slo-niacin is an alternative..

 

[degsme]

how so? didnt you post elsewhere that the ER would serve as defacto coverage? maybe they could attach a lein..etc..

ER is defacto coverage. As in they will treat you, and the generic cost of that treatment is overall covered by the tax penalty. But in the individual case, lacking insurance means you are on the hook for the full amount. And bankruptcy courts are likely to be far less lenient in discharging such debts precisely because you could have avoided them.

 

[degsme]

The best thing to do is take what IS and work with it. Looks like you've come up with a good plan.

Well if risking your life's assets in return for only 85% of what the company refund is (I'm assuming you are in the 15% tax bracket).... yeah brilliant idea....

 

[degsme]

Mr. Gabe,

Way ahead of you.I intend on taking that and dumping it into my 401K to max out my catchup, so my tax burden will stay the same.

That's only true for the CURRENT tax year. In the end you still pay taxes on it. And if you end up with a serious but not catastrophic medical situation (which at 50+ is not unlikely) - they can and WILL attach your 401k...

 

[gabriel]

sorry pal. you have to subtract the tax due because your 401 is already covered and that in lieu money is over and above. carry on calculating

 

[degsme]

exchanges... cant refuse.. all that..

anyhoo.. maybe a slo-niacin is an alternative..

Exchanges cannot refuse you, but they can offer ONLY "year long plans" - which essentially means you cannot drop them as needed.

And those are likely to be slightly more expensive than what you get as the "payback" from your employer(if you work for a large employer).

 

[gabriel]

especially if the payback is taxable income