Can Getting Married Hurt Your Health Insurance Discount?

Tying the knot is a joyous occasion, but it can also impact your health insurance situation. As the post above demonstrates, getting married can lead to a significant decrease in your ACA health insurance discount.

How does the ACA marriage penalty work?

The ACA provides subsidies to help people afford health insurance. The amount of subsidy you receive is based on your income and family size. When you get married, your household income increases, which can lead to a decrease in your subsidy.

In the case of the user, his discount dropped from $287 to $18 after he added his wife’s income to his application. This is because the ACA considers the combined income of all household members when determining eligibility for subsidies.

What can you do to minimize the marriage penalty?

There are a few things you can do to minimize the impact of the marriage penalty on your health insurance costs:

Explore your options. If your spouse has employer-sponsored health insurance, you may be able to get coverage through their plan instead of the marketplace. This could save you money, even if you have to pay a premium.
Use tax credits. If you don’t qualify for premium subsidies, you may be eligible for tax credits to help offset the cost of your health insurance premiums.
Consider a different plan. If you’re currently enrolled in a marketplace plan, you may be able to switch to a lower-cost plan to reduce your monthly payments.

Can insurance costs go down after marriage?

In some cases, getting married can actually lead to a lower health insurance premium. This is because some insurance companies offer discounts to married couples. Additionally, if your spouse has employer-sponsored health insurance, you may be able to get coverage through their plan at a lower cost than you would pay for an individual plan.

How to get affordable health insurance as a married couple

If you’re concerned about the cost of health insurance after getting married, there are several things you can do to get affordable coverage:

Shop around. Compare plans from different insurance companies to find the best deal.
Consider a high-deductible plan. High-deductible plans have lower monthly premiums, but you’ll have to pay more out-of-pocket costs if you need medical care.
Use a health savings account (HSA). HSAs are tax-advantaged savings accounts that you can use to pay for qualified medical expenses. Contributions to HSAs are tax-deductible, and withdrawals for qualified medical expenses are tax-free.

Getting married can be a great way to start a new chapter in your life, but it’s important to be aware of how it can affect your health insurance costs. By following these tips, you can get affordable coverage and protect your health.