The situation is more convoluted than the title even: I'm not new to self-employment, in fact that's how I've made my living up until recently. I'm 25 which means that even though I moved out and got married I didn't have to set up health insurance for myself yet.
Earlier this year I was hired to an actual salaried job with benefits and so I also signed onto their health insurance plan. This job is providing just under half of my current income but I'm still doing my other work as well. The salaried job isn't working out as well as I'd hoped it would and I'm seriously considering leaving if I can make it work, but it's complicated because we'd have a significant deficit if I just walked away and my wife is pregnant with our first child as well (due in April). However I have an interview today for a job which wouldn't make up ALL of the lost income but would make it much closer.
I'm confident in my ability to weigh my options based on my potential income, expenses, taxes, etc. as long as I have the numbers. It's really just the health insurance that's getting me. It's easy enough to do the preliminary search results on the healthcare marketplace but if I just look at those unsubsidized numbers straight-up, they're depressingly high. It means that I would not only be taking a pay cut but I would be paying more for the same coverage, or opting for a much simpler plan.
I think there are government tax credits given depending on your income but I haven't been able to find solid information on this to see how much I could reasonably expect to receive. I also would love to know if my income is low enough to be eligible for medicaid but I've had trouble figuring that out as well.
DATA
Family members: Me (25), Wife (23/pregnant), baby (0/due in April)
Location: Southeast Michigan
Expected income: $55,000/$64,000 self-employed gross income
Current insurance: Blue Cross Blue Shield "PPO2" ($1,500/$3,000 deductible, $8,000 max family OOP)
Current premium: $332/month after employer discount
I apologize if I'm missing something obvious or if this is a mess but any guidance or more concrete information would be greatly appreciated. Thank you!
Submitted January 17, 2019 at 09:17AM by SocialIssuesAhoy http://bit.ly/2FD7Wns
