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|User Info||Beaker! (Podcast); entered at 2020-01-12 20:59:59|
Registered: 2018-01-23 Lake Elsinore, CA
On 1-8-2018 my wife got a letter from Kaiser Permanente informing us that she was no longer covered under my retirement medical policy (former company had merged into larger company and we were not notified). Searching the internet we came up with Covered California subsidized plan for $96 per month based on my retirement income (Social Security + Company Pension). In my estimate I failed to add in some additional income which was going to be distributed from my IRA because I turned 70.5 in 2018.|
Come November I decided to look into how much I should take from my IRA for RMD for tax purposes. I used the Covered California site to estimate how much extra I would pay for the IRA income projection. I entered $600 in the additional income field to see what it would do to the premium to pay in December. The premium amount it returned for Dec. was $450. I was shocked and was even more shocked when I could not even back that $600 out of my "estimate". The system took that $600 as real income as if I had already received it. I called the help desk. No luck... the system can not be changed. But I pleaded that it was only an estimate! Too bad. Can I cancel the insurance instead? YES! So, wife had no insurance in December and zero premium.
Additional fact: Before Obamacare my wife's Aetna medical policy was fully prepaid up. Zero premium and we liked her doctor with $5 co-pay.