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Can I get some answers regarding age limitations or income limitations
Please forgive me for asking this, but I have looked but could not find any definitive answer to my questions elsewhere. All information I have found seemed to not apply to my case.
I am well into my 70's, with a very small income. I would like to know if I am eligible for ACA premium subsidy when I get insurance from marketplace.
All the information I have seen talks about some income range above poverty line. My case is that my income falls well below poverty line (I make
and sell handcraft items myself). Can anybody tell me whether my age and my income level will outright prevent me from getting subsidy?
I had consulted with some free community service consultants regarding this; they advised me to apply either for the state program (in my case california
which is medi-cal I believe) or medicare, because I am over 65. However, I am not eligible for any subsidy from the state program because my asset
(savings in bank account) is above their limit. Also, not only am I not eligible for medicare assistant (because I have only worked in the United States for
only a short period of time, I am immigrant), but I found out because I had not been insured through medicare since I became eligible (at age 65), I have
to pay a very heavy penalty (100% more in premium, which add up to more than $1000 a month). This is the reason why I am trying to find out if there
is any way I can get reduced premium from ACA. It has come down to draining my bank account savings paying for medicare, or some plan I can get
from marketplace, or keep going uninsured.
Actually I am not sure if this is the right forum to ask these sort of questions, I hope you don't mind.