Obamacare insurance and Affidavit Of Support

[BombayParents]

Obamacare insurance market place offers tax credit , for green card holders also. But will availing of such tax credit violate the conditions of Affidavit Of Support Form I 864 ? Form I 864 essentially guarantees that the green card holder will NOT be a public charge on Federal Government. Will Obamacre insurance with paid in tax credit be considered a violation of AOS ?

[Trinity71]

Obamacare insurance and Affidavit Of Support

Obamacare insurance market place offers tax credit , for green card holders also. But will availing of such tax credit violate the conditions of Affidavit Of Support Form I 864 ? Form I 864 essentially guarantees that the green card holder will NOT be a public charge on Federal Government. Will Obamacre insurance with paid in tax credit be considered a violation of AOS ?

It should not have any affect on the AOS and here's why: The Affordable Care Act plans (what people call Obamacare) are plans marketed at their normal offered price by domestic insurance companies. Then, they estimate what your tax return might look like based on your income, household size etc., and how many people in your family are needing coverage.

For example if you apply for 2016 coverage and they estimate you would receive 3,000 back on your 2016 return once filed they divide the 3,000 by 12 months (1 year of coverage) so in this case 250.00 a month and that is your tax credit that you can use towards the cost of your plan of choice. If your household income is too high, you can still purchase the plan, you would just not be eligible for a credit.

So if I have a 600.00 plan, then I would pay 350.00 a month for it minus my 250.00 "tax credit". I am not using government money, I am using my own money. I am getting a credit based on what I am providing myself, just in advance. Many people thought the tax credit was "free money" from the government to help with healthcare.... until they filed their tax returns.

It amazes me that in 2015 so many people still do not understand there is really no such thing as free. And if the government is "providing" anything, we are all paying for it.

Anyways... your using your own earned income to provide yourself the credit. And just an FYI.. if someone makes more than they estimate... you could owe them (the IRS) at the end of the year. So if your credit by the end of the year based on actual income should have been 200.00 a month- you owe them the difference.. or in this example 600.00.

Hope this answers your questions.

This is my opinion and not legal advice. Use of this information is strictly at your own risk.