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WALLSTREETFIGHTER
WALLSTREETFIGHTER, Attorney
Category: Legal
Satisfied Customers: 17080
Experience:  14 years experience in representing clients, current member of legalshield, legal club of america, NYSUT and UFT attorney
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My 20 year old daughter just graduated college and works for

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My 20 year old daughter just graduated college and works for the Red Cross. She lives at home and earns about $14,000/year.

Looking at the affordable health care site she could get health insurance for eight dollars per month after subsidy.

I would think that we'd have to include the entire family salary in the calculation but she thinks if I rent her her room at market rate she can be considered independent and get the lower rate.

Thoughts?

WALLSTREETLAW :

Hello and welcome. My name isXXXXX am a Licensed practicing attorney and my goal is to provide you with excellent service today.

WALLSTREETLAW :

She would be right, if her household income is lower she would be entitled to the lowest rate, also under the new provisions she can be included in your health insurance until age 26,

WALLSTREETLAW :

Also under the law household income is less than 400 percent of the federal poverty level, which this year is about $46,000 for an individual, or about $78,000 for a family of three.

WALLSTREETLAW :

They use the IRS definition of household,

WALLSTREETLAW :

so if you claim her as a dependant it will be an issue,

WALLSTREETLAW :

The Internal Revenue Service (IRS) defines a member of household as a person who is related to you or lives with you for the entire year as a member of your household

WALLSTREETLAW :

If she is living in the home but paying rent, and filing her own taxes, and paying her own expenses, she would not be a household member,

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