Medical Insurance question

[Nich-Nick 3,354]

Can I just apply for tax married but filing separately or is it a must to file joint ? I make around $6000 a year. In this case, the tax penalty is gonna be subjected to my income only, right ? I am going to travel for one month. Thinking of dopping my insurance in that month,,is that good idea or not ? Thank

You can file separately. It won't help you. They have the loopholes covered.

Dropping insurance for a month means you are uninsured right? How does that help? Plus you can't just start up again. You have to wait for the open enrollment dates so you will end up uninsured until the next year starts.

[Boiler 45,519]

What did you do before you married, does your college not have a scheme?

[Dantrolene 15]

You can file separately. It won't help you. They have the loopholes covered.

Dropping insurance for a month means you are uninsured right? How does that help? Plus you can't just start up again. You have to wait for the open enrollment dates so you will end up uninsured until the next year starts

How it won't help me ? My understanding is when I am subject to penalty for being uninsured for couple of months, it will be over my sole income ( not the total household income ) because we'll file separately, am I correct ?

I heard about there is short gap that can exempt me from paying penalty, but in case I couldn't be able to enroll myself again before the enrollement dates, that would be an issue and I would be likely paying penalty. That's why I wanna see is it worth it or not..

What did you do before you married, does your college not have a scheme?

I was enrolled in international college where insurance is not required. I just need to know whether married filing separately would make the penalty upon my sole income ( not the total household income ) ?

[Boiler 45,519]

College's in the US normally have schemes for their students.

[Dantrolene 15]

I am not enrolled in any of US schools.

[agrabs 241]

That is just crazy and sounds like a fishy marriage for a greencard when the wife won't share your expenses. You are eligible for any insurance that she is. If she has a family policy for her and kids, it may not be any additional if there is a spouse on it as well.

If you file separately, then your wife will take a hit on her separate taxes...several thousand dollars. So in the end, the penalty you don't pay costs her way more in taxes than what you saved. and if you are uninsured and get in a bad car wreck, a $250,000 medical bill is her responsibility because she sponsored your affidavit of support.

You are both being very short-sighted with failure to have insurance. And you are trying to find an angle to get out of it. Get a divorce, then you are poor and qualify for health insurance subsidy.

Exactly!

Not carrying health insurance is down right irresponsible.

[Dantrolene 15]

I'll be traveling anyway outside the US anyway, that's why I am thinking of dropping myself for one or two months of traveling and enroll again when come back. MY wife doens't have family insurance. she has her personal insurance from market place and she can afford it. I am not. So I am looking forward for just in case I am applied to penalty, it would be over my sole income not the total household ( because at the end I will be paying it because its my fault in the first place, not hers). I am sure there are lots of couples they have the same scenario, living together and life is pink, but expenses are separate. We are happy in our relationship so far and we are agreed upon everyone is responsible for their own expenses from the very first time.

[Lemonslice 4,841]

I'll be traveling anyway outside the US anyway, that's why I am thinking of dropping myself for one or two months of traveling and enroll again when come back. MY wife doens't have family insurance. she has her personal insurance from market place and she can afford it. I am not. So I am looking forward for just in case I am applied to penalty, it would be over my sole income not the total household ( because at the end I will be paying it because its my fault in the first place, not hers). I am sure there are lots of couples they have the same scenario, living together and life is pink, but expenses are separate. We are happy in our relationship so far and we are agreed upon everyone is responsible for their own expenses from the very first time.

How much would it be to add you to her insurance - the difference might be cheaper than the penalty? And then you repay her, if you guys agreed on that...

There is nothing wrong with keeping expenses separate, however, for some expenses, it might not make financial sense.

[Dantrolene 15]

Based on Molina, whether we are on one plan or separate, we both still pay the same amount whether we are on joint plan or separate. so it won't make any difference. As for me, I care about the little penalty I would pay instead of premimum monthly amount for 2 months ( only if my penalty would be calculated by my sole income not the whole household income)
Nobody told me yet whether or not married filing separately would make my penalty limited to my own income ? Thanks

[ElliePro 32]

You get penalized if you don't have coverage for more than 3 months, so 2 months is fine, but as was noted above, I'm not sure you can just jump back on, you might have to wait until open enrollment