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Affordable Health Care coverage

By Terry Savage on January 05, 2022 | Insurance & Annuities

Hi Terry. My position at work was just terminated. I was offered another position but instead of taking it I resigned. I plan to start my own business in 2022. My AGI for 2021 will be about 47000.00. I have no idea how much money I will make in 2022 but just starting out it would probably be under 25000.00. Would it be okay to use that figure when I sign up for an affordable health care plan? Thank you and have a great day!

Terry Says

Whew — well that was a dramatic move. Probably explains yesterdays headline numbers that 4.5 million Americans quit their jobs last month!
First check on how much COBRA would cost — continuing your existing insurance.
And yes, this would allow you to trigger the Affordable Care Act at www.Healthcare.gov — and you can certainly estimate your income for the year ahead — but if your income is larger, then you’ll be hit with an adjustment in the future.

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