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Obamacare and Cobra Coverage?
My husband's hours are being cut so he'll be a part time employee starting in December rather then full time. He is on Medicare and VA so won't need insurance, but I'll still need it. I was going to go onto Obamacare, but we will be adding a lump sum amount from the IRA to our taxes this year, taking our income way up. With only one month left in this year (2016) I'm thinking it might be cheaper for us to take Cobra out on me and then, after the 1st of the year, switch over to Obama Care, since open enrollment lasts through January 2017. That way, when I sign up for Obamacare, I'll be using projected 2017 earnings rather then 2016 and the lump sum will not be there, right? Plus, in 2016 my husband will be making less on his job, so Obamacare should cost considerably less as the projected 2017 income will qualify us for subsidies.
Cobra will be costly, but only for a couple of months. I think the over all savings this way will be the greatest. Does this sound right?