I am currently paying nothing for a Marketplace policy due to low income. I reside and pay taxes in North Carolina. Towards the end of January of 2024, I will take up an overseas position, being paid as a 1099 contract worker for the U.S. government. They provide an in-country health insurance policy designed as a stop-gap in case I break my leg or something of that nature. It is not designed for prolonged care in case of some sort of disastrous and expensive illness (in which case I would likely return home).
I want to keep my marketplace policy in case of such an event, but I also want to make sure I qualify as a “resident”. I will be out of the country for close to the limit of 330 days to claim exemption, but not quite reaching it. I have been told that regardless of my tax or domicile situation, I remain a “resident” of North Carolina, legally, until I declare residency elsewhere.
I think that what this all boils down to is that I am good to go on keeping my current policy. I meet all the requirements, as far as I can tell. Does anyone disagree?
I found this on healthcare.gov: https://www.healthcare.gov/quick-guide/eligibility/
One other question. A tax professional said that I could substantially reduce my AGI by opening a SEP IRA which, because of my age (over 55) I am permitted to contribute up to $60K. Anything wrong with this plan to keep my income in-line with the ACA tax credit?