Obamacare Master thread

[sillypainter]

And i can tell that you didn't have breakfast yet! Of course that's because you can't eat
Not sure which false info you're talking about, Were do i mention in my post that i think that because its the business that makes the money its doesn't reflect and linked to my personal income? And how do you know that my business is an S?

Sorry if you took it the wrong way. I was just pointing out what I went through.  It's up to you to decide how you want to "eat" it. From the LONG thread I understood that you have an S Corp. Anyways, it's YOU who needs to decide.

[Bukboy]

Sorry if you took it the wrong way. I was just pointing out what I went through.  It's up to you to decide how you want to "eat" it. From the LONG thread I understood that you have an S Corp Anyways, it's YOU who needs to decide.

Didn't take it in the wrong way was just trying to make some fun Thanks for sharing your personal experience! Interesting thing, My friend had his Gastric sleeve surgery exact same day as you!!   

[ExGingi]

I see SO much false information given to you. I was in your shoes, thought that as long my business makee money, I'm not making money, WRONG! The government sees YOU as making money when you have an S Corp.

I had to pay a $8500 penalty, they charged me what they paid to Fidelis or I would risk prosecution, not worth it.......They will catch you.

I've heard of other people in a similar situation to what you are describing, and I've seen many that had it differently. IDK all the facts one way or the other, but I would suspect that if things are done in a prudent way, you should not get into trouble when you transition from Medicaid eligibility to being non-eligible if you play your cards right.

Did you ever notify them that you are no longer eligible, or did you wait for them to "catch" you.

When you have an s-corp, you don't really know how much money you made until you get your K-1. You do know how much you got in payroll.

[Bukboy]

I've heard of other people in a similar situation to what you are describing, and I've seen many that had it differently. IDK all the facts one way or the other, but I would suspect that if things are done in a prudent way, you should not get into trouble when you transition from Medicaid eligibility to being non-eligible if you play your cards right.

Did you ever notify them that you are no longer eligible, or did you wait for them to "catch" you.

When you have an s-corp, you don't really know how much money you made until you get your K-1. You do know how much you got in payroll.

Very logical, So what am i suppose to do now?

[ExGingi]

Very logical, So what am i suppose to do now?

PM. I can't guarantee anything but I can share quite a bit of personal experience and knowledge.

Also maybe if we can get more info from @sillypainter about what exactly transpired in his case, you will know which pitfalls to avoid.

[Bukboy]

PM. I can't guarantee anything but I can share quite a bit of personal experience and knowledge.

Also maybe if we can get more info from @sillypainter about what exactly transpired in his case, you will know which pitfalls to avoid.

Thanks!
Which additional info would you like me to add in the PM in order for you to understand exactly my position?

[sillypainter]

I've heard of other people in a similar situation to what you are describing, and I've seen many that had it differently. IDK all the facts one way or the other, but I would suspect that if things are done in a prudent way, you should not get into trouble when you transition from Medicaid eligibility to being non-eligible if you play your cards right.

Did you ever notify them that you are no longer eligible, or did you wait for them to "catch" you.

When you have an s-corp, you don't really know how much money you made until you get your K-1. You do know how much you got in payroll.

I didn't even argue with them, because my case was not far away to being given over to the DA which of course is HEADACHES to say the least. I was happy that they wanted MONEY.

They claim that a C corp is not your money, but an S corp. you can;t wait until you file your K-1, it's YOUR funds, you have access to it. Of course you can maybe argue in court otherwise and a judge may side with you, but it's NOT worth it.

I would ask one of your local Jewish social service offices. My story was in 2013.

They are very nice, they ONLY need the money they paid back :-) With food stamps for example ( which I didn't take at that time) you at least had this money and spent it. With Medicaid, when they pay your premium of $1,000/month, you have ZERO out of it, it's not like money you had.

[ExGingi]

I didn't even argue with them, because my case was not far away to being given over to the DA which of course is HEADACHES to say the least. I was happy that they wanted MONEY.

They claim that a C corp is not your money, but an S corp. you can;t wait until you file your K-1, it's YOUR funds, you have access to it. Of course you can maybe argue in court otherwise and a judge may side with you, but it's NOT worth it.

I would ask one of your local Jewish social service offices. My story was in 2013.

They are very nice, they ONLY need the money they paid back :-) With food stamps for example ( which I didn't take at that time) you at least had this money and spent it. With Medicaid, when they pay your premium of $1,000/month, you have ZERO out of it, it's not like money you had.

Did you wait for them to tell you that you weren't eligible after you filed your taxes, or did you notify them at any point (prior to filing taxes) that you are no-longer eligible.

From what I have seen, none of these government entitlement agencies know much about self-employment, business owners, etc.

Also, IINM NYS Medicaid doesn't currently have an asset test, but only an income test (I might be wrong on this, and it might have been a temporary change after 2008 financial crash). I would say that it is extremely plausible that a business owner doesn't know if, and how much, money he is making, until proper accounting is done, which is often months later.

[sillypainter]

Did you wait for them to tell you that you weren't eligible after you filed your taxes, or did you notify them at any point (prior to filing taxes) that you are no-longer eligible.

From what I have seen, none of these government entitlement agencies know much about self-employment, business owners, etc.

Also, IINM NYS Medicaid doesn't currently have an asset test, but only an income test (I might be wrong on this, and it might have been a temporary change after 2008 financial crash). I would say that it is extremely plausible that a business owner doesn't know if, and how much, money he is making, until proper accounting is done, which is often months later.

It was a back charge after seeing my my tax return, I guess I was randomly back audited.

[ExGingi]

It was a back charge after seeing my my tax return, I guess I was randomly back audited.

Were you still on Medicaid at the time your return was filed (or shortly thereafter), or did you voluntarily go off once your return was filed with numbers that made you ineligible?

[ExGingi]

https://www.bloomberg.com/politics/articles/2017-02-05/trump-says-obamacare-replacement-could-take-until-next-year

[mgarfin]

http://www.forbes.com/sites/ashleaebeling/2017/01/05/small-business-health-reimbursement-accounts-resurrected-for-2017

[aygart]

[sam123]

Is anybody using or heard of https://www.libertyhealthshare.org it's an interesting idea, I'm wondering if there's any downside to it.

[AsherO]

Is anybody using or heard of https://www.libertyhealthshare.org it's an interesting idea, I'm wondering if there's any downside to it.

Arevim-like scam, but for healthcare?

[mgarfin]

Arevim-like scam

Source ?

[ExGingi]

Arevim-like scam, but for healthcare?

I had looked into some similar programs, and here is what stopped me:

"Join a community of health-conscious Americans who practice longstanding Christian principles in sharing healthcare costs."

From a legal standpoint, it seems to me like one joins a church, in order to be part of this.

The other major problem is this:

"12: What are the minimum and maximum amounts of medical bills I can submit to be shared?
MINIMUM: Once the annual unshared amount has been met, there is no minimum sharing amount.
MAXIMUM: For Liberty Share℠ and Liberty Plus℠ $125,000 per incident
And if you participate in our program for sharing catastrophic expenses within Liberty Complete℠, the maximum shared per incident increases:
Liberty Complete℠ MAXIMUM: $1,000,000 per incident


13: What do I do if my bills are over $125,000 and I'm not a part of the catastrophic program (Liberty Complete℠)?
There is no recourse for expenses that exceed the sharing limit of $125,000 when the member is not a part of Liberty Complete℠. In today's high cost medical environment, it's prudent to take caution. Enroll in Liberty Complete℠ today and don't let this happen to you!"

So if something major happens, one might just not have sufficient coverage!

[sam123]

 Areivim is not a Scam and this isn't too..

They have a plan that covers up to a Million per incident.

Doing some research I heard that allot people in B.P. and Lakewood using it, maybe a new thread will bring somebody in providing its experience?

That maybe good together with a cheap Insurance Plan with an high deductible to be covered in case..

[AsherO]

Areivim is not a Scam and this isn't too..

Says who? What happens when they run out of money? Which is a real possibility.

[sam123]

Says who? What happens when they run out of money? Which is a real possibility.

Merriam-Webster › dictionary › scam
Define scam: a dishonest way to make money by deceiving people — scam in a sentence