Affordable Care Act - Individuals

Can I be refused medical insurance if I have a pre existing condition?

Asked Thursday, November 21, 2013 by an anonymous user

CPA Answer:

No. Starting in 2014, health insurance plans can't refuse to cover you or charge you more just because you have a pre-existing health condition.
Starting in 2014, being sick won't keep you from getting health coverage. An insurance company can't turn you down or charge you more because of your condition. Once you have insurance, the plan can't refuse to cover treatment for pre-existing conditions. Coverage for your pre-existing conditions begins immediately.
This is true even if you have been turned down or refused coverage due to a pre-existing condition in the past.
The only exception is for grandfathered individual health insurance plans -- the kind you buy yourself, not through an employer. They do not have to cover pre-existing conditions. If you have one of these plans you can switch to a Marketplace plan during open enrollment and immediately get coverage for your pre-existing conditions.
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Affordable Care Act - Individuals

Can I get dental coverage in the Marketplace?

Asked Thursday, November 21, 2013 by an anonymous user

CPA Answer:

In the Health Insurance Marketplace, you generally can get dental coverage as part of a health plan or by itself through a separate, stand-alone dental plan. Under the health care law, dental insurance is treated differently for adults and children 18 and under.
Dental coverage for children is an essential health benefit. This means it must be available to you as part of a health plan or as a free-standing plan. This is not the case for adults. Insurers don’t have to offer adult dental coverage.
Starting in 2014, you must have health coverage or pay a fee. But this is not true for dental coverage. You do not need to have dental coverage to avoid the penalty.
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Affordable Care Act - Individuals

Can I be refused Medicaid medical insurance if I have a pre existing condition?

Asked Thursday, November 21, 2013 by an anonymous user

CPA Answer:

Medicaid and the Children's Health Insurance Program can not refuse to cover you or charge you more because of a health condition.
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Affordable Care Act - Individuals

What are the different options of getting health insurance?

Asked Thursday, November 21, 2013 by an anonymous user

CPA Answer:

1- Health Insurance Marketplace referred to as a health exchange. it began in 2014, this program helps a person find health insurance that fits their budget. The exchange is run by the state or federal government and it results in a private insurance policy.
2- Job-based coverage is when employer offers health insurance coverage. You may be eligible to receive it, including your spouse or dependents. Employers may decline coverage for certain reasons such as for part-time workers, but not for health related reasons.
3- Medicaid: Each state offers Medicaid for lower income people or for the elderly or people with disabilities.
4- Private policy: these health plans will cost the same whether acquired directly or through an insurance exchange. Subsidies will apply only if you are using an insurance exchange.
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Medicare Tax Additional

Will an individual owe Additional Medicare Tax on all wages, compensation, and/or self-employment income or just the wages, compensation, and/or self-employment income in excess of the threshold for the individual’s filing status?

Asked Wednesday, August 21, 2013 by an anonymous user

CPA Answer:

An individual will owe Additional Medicare Tax on wages, compensation, and/or self-employment income (and that of the individual’s spouse if married filing jointly) that exceed the applicable threshold for the individual’s filing status.
For married persons filing jointly the threshold is $250,000, for married persons filing separately the threshold is $125,000, and for all others the threshold is $200,000.
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Medicare Tax Additional

Will Additional Medicare Tax be withheld from an individual's wages?

Asked Wednesday, August 21, 2013 by an anonymous user

CPA Answer:

An employer must withhold Additional Medicare Tax from wages it pays to an individual in excess of $200,000 in a calendar year, without regard to the individual’s filing status or wages paid by another employer.
An individual may owe more than the amount withheld by the employer, depending on the individual’s filing status, wages, compensation, and self-employment income.
In that case, the individual should make estimated tax payments and/or request additional income tax withholding using Form W-4, Employee's Withholding Allowance Certificate.
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Medicare Tax Additional

What Railroad Retirement Tax Act (RRTA) compensation is subject to Additional Medicare Tax?

Asked Wednesday, August 21, 2013 by an anonymous user

CPA Answer:

All RRTA compensation that is currently subject to Medicare Tax is subject to Additional Medicare Tax if it is paid in excess of the applicable threshold for an individual’s filing status.
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Medicare Tax Additional

What wages are subject to Additional Medicare Tax?

Asked Wednesday, August 21, 2013 by an anonymous user

CPA Answer:

All wages that are currently subject to Medicare Tax are subject to Additional Medicare Tax if they are paid in excess of the applicable threshold for an individual’s filing status.
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Medicare Tax Additional

What individuals are subject to the Net Investment Income Tax?

Asked Wednesday, August 21, 2013 by an anonymous user

CPA Answer:

Individuals will owe the tax if they have Net Investment Income and also have modified adjusted gross income over the following thresholds:
Married Filing Jointly $250,000
Single, Head of Household or Qualifying Widower $200,000
Married Filing Separately $125,000
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