Health Insurance help

[alalal]

Hi,

So I will be losing my health insurance coverage in June because I am turning 26. Currently, my average hours are at 21, so I will not be eligible through Target and intend to apply for coverage on the marketplace under the ACA. Over the summer, I will be taking fewer classes and was originally planning on working full time for a couple months until I go back to part time in the fall. If i become eligible for benefits through Target, I will lose the tax credit that makes the marketplace insurance affordable. Has anyone navigated this before? I want to know how quickly if I pop over 25 hours would my tax credit be impacted. Also, when I lose my insurance coverage, do they check my eligibility through Target based on my average hours at that time, or based on my average hours on my last W2?

Thanks

 

[MrT]

Pay and benefits would be able to give you a better answer then I can. A life change allows an employee to apply for benefits outside of enrollment period, but I'm pretty sure there is a limited amount of time that that applies. So if you become eligible because you now have the average hours needed but it's after the alloted time given for the life change then you are not eligible for benefits so that shouldn't effect the tax credit as you do not have the option for health insurance through your employer. Like I said though talking to the benefits team will be much more informative. States have there own laws for all this so it's hard to answer the question with any certainty. Edit I'm not even sure that the eligibility would be different, it may be calculated from open enrollment time.

 

[Ashfromoldsite]

Hi,

So I will be losing my health insurance coverage in June because I am turning 26. Currently, my average hours are at 21, so I will not be eligible through Target and intend to apply for coverage on the marketplace under the ACA. Over the summer, I will be taking fewer classes and was originally planning on working full time for a couple months until I go back to part time in the fall. If i become eligible for benefits through Target, I will lose the tax credit that makes the marketplace insurance affordable. Has anyone navigated this before? I want to know how quickly if I pop over 25 hours would my tax credit be impacted. Also, when I lose my insurance coverage, do they check my eligibility through Target based on my average hours at that time, or based on my average hours on my last W2?

Thanks

You won’t become eligible for health insurance thru target until your average hours on Dec 31 is above the minimum. Working full time over the summer isn’t going to get you there and keep you there.

If your hours are above the minimum on Dec 31, you can sign up for benefits the next February and it won’t kick in until April.

 

[Dream Baby]

I did the switch to Healthcare.gov a year ago.

As the previous poster mentioned you can't get on Target's insurance until April 2026.

That's 10 months away and you may not be eligible anyway.

Signing up on Healthcare.gov is pretty easy. If you want to add Dental Insurance that is done AFTER you sign up for main insurance however.

In regards to the subsidy that you could get it can be adjusted during the year if need be. You can use these links to estimate your subsidy.

Health Insurance Marketplace Calculator | KFF

The Health Insurance Marketplace Calculator, updated with 2025 premium data, provides estimates of health insurance premiums and subsidies for people purchasing insurance on their own in health insurance exchanges (or “Marketplaces”) created by the Affordable Care Act (ACA).

www.kff.org

2025 Obamacare subsidy calculator | healthinsurance.org

Our ACA health insurance subsidy calculator estimates your premium subsidy based on your income, age and household size.

www.healthinsurance.org

Low Cost Marketplace Health Care, Qualifying Income Levels

Check if you might save on Marketplace premiums, or qualify for Medicaid or Children's Health Insurance Program (CHIP), based on your income. Or, find out who to include in your household and how to estimate income before you apply. You could save money on health insurance costs. Visit...

www.healthcare.gov

You are only 26 so your health insurance wouldn't be much anyway.

Finally I think staying with the same insurance company as you are currently on makes things easier too.