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NBC News: Millionaire Early Retirees Getting Big Obamacare Tax Subsidies

NBC News: Millionaire Early Retirees Getting Big Obamacare Tax Subsidies.


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This article was first posted March 1, 2016.


In January 2016, NBC News had an interesting article on How Millionaires Get Obamacare Subsidies Intended to Aid the Poor .


A number of wealthy individuals, some of whom were "disgusted" with Obamacare when it first went into effect, nonetheless are now taking advantage of federal financial aid available under that health-care law to help significantly reduce their monthly insurance premiums.

Carolyn McClanahan, a Jacksonville, Florida-based financial advisor and medical doctor, told CNBC that she's steered at least five such clients, whose individual net worths range between $1 million and $3 million, toward buying Obamacare health plans because of the federal subsidies available due to their taxable income levels.

Those clients are saving between $4,600 and $8,800 in annual premium payments as a result of subsidies. On top of that, McClanahan said, they are getting extra financial help to pay their out-of-pocket health expenses the copayments, coinsurance and deductibles that aren't covered by their insurance plan.



Of course, Retire Early noted that in an article back in August 2010. Obamacare makes it easier for millionaires to retire early? If you're getting your Obamacare information from Fox News or another right-wing outlet, you're likely leaving thousands of dollars per year in tax subsidies and lower premium costs on the table.




Resources for more information

How Millionaires Get Obamacare Subsidies Intended to Aid the Poor by Dan Mangan,CNBC,January 26,2016



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Copyright 2000-2016 John P. Greaney, All rights reserved.


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