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Covered California Q&A

Covered California and Obamacare related questions from consumers, employers and agents are answered by Phil Daigle with the best information available at the time. Archived entries may no longer be accurate as the Covered California and Obamacare knowledge-base is evolving quickly. TO REQUEST A PERSONAL RESPONSE INCLUDE EMAIL ADDRESS.

Do Assets Count?

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Question: Is the subsidy only based on yearly income?? What if I have alot of assets but low income?

Answer: Only your income is considered. Covered California will qualify you financially based on your adjusted gross income from last year’s tax return.

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By taking advantage of tax exempt savings plans,like 401k’s, individuals can lower their adjusted gross income and recieve more money from the federal government in the form of Health Insurance Subsidies. Take full advantage of the laws and save some money!

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