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WC effect on ACA eligibility or tax credit
I didn't expect to take so long, but things in my actual WC case intervened (for one, the insurance company is going out of business).

A Marketplace rep told me that indeed WC payments are not counted as income for ACA purposes. (Doesn't seem fair to me since I would be working but for the injury.) Though she could not point me to written, final rules, this page on their website says:
Estimating your income
You’ll need to estimate if you’ll be making more or less than a certain amount in the year for which you want coverage.
This amount should include income for:
• You and your spouse, if you are married and will file a joint tax return
• Any dependents who make enough money to be required to file a tax return
For each of these sources, estimate the amount of income you’ll make in the year for which you want coverage and how often you’ll receive it:
• Income from your job: Enter the amount that’s shown on your pay stub before taxes are taken out. If the amount of your wages changes each week, enter how much you expect to earn for the whole month, or enter the average number of hours you’re working right now. Count all tip income here, even if it’s not reported to your employer. Include all jobs, even if they’re part-time or you’re paid in cash. You can add each job separately by selecting “Add a new source of income.
• Net income from any self-employment or business (generally the amount of money you take in from your business minus your business expenses)
• Unemployment compensation
• Social Security payments, including disability payments -- but not Supplemental Security Income (SSI)
• Alimony
Other items to include when estimating your income are: retirement income, investment income, pension income, rental income, and other taxable income such as prizes, awards, and gambling winnings.
Don't include these:
• Child support
• Gifts
• Supplemental Security Income (SSI)
• Veterans’ disability payments
• Workers’ compensation
• Proceeds from loans (like student loans, home equity loans, or bank loans)

All year so far I've received significant premium subsidies. If my income were to end up being below the minimum level to be eligible for that, no doubt I'd be in a pickle come tax time. Thus what I really need is more taxable income. Unfortunately, at my wage rate before injury it would take 40 hrs/week every single week from late July to Dec 31 to get there, so I'm already behind. Plus I'm not even released for work yet - should be soon, but then time has to also be taken for another surgery and more therapy too.

Ah well, keep calm and carry on, etc, etc.

Messages In This Thread
RE: WC effect on ACA eligibility or tax credit - CrushedHand14 - 08-13-2014, 03:03 PM

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