COVID-relief bill might save you a LOT of health insurance money

COVID-relief bill might save you a LOT of health insurance money (or mistakes can leave too much $ on the table)   In this podcast: Real-life example, this comes across to me very frequently. Client intends to open a Roth IRA account. Her income is 30,000 but has savings, enough to contribute the maximum towards a Roth or a traditional IRA. If she had chosen a traditional IRA, she would've saved over $1000 on her health insurance premium in 2021. If she chooses a Roth IRA, she can get future tax benefits (since capital gains, dividends and interest are not taxable later, however, the clients needs to be at least 59 1/2 and the account needs to be 5 years old).  Given that she has an income of 30,000, the extra $1000 due to lower health insurance premiums? That is very much worth considering. That is an individual's choice.  Not knowing the interaction exists? There is a reason for that, i.e. advisor don't know, and some even take pride, in knowing anything about health insurance. Except now, it involves taxes, because the health insurance subsidy is actually a tax credit.   A good place to start estimating: https://www.healthsherpa.com/?_agent_id=jae-oh. Your first call has no-obligation and is FREE https://calendly.com/justjae/30minBe sure to SUBSCRIBE to this Channel: bit.ly/2ZX9st7 CONNECT: Sign up for the MYM Newsletter: http://eepurl.com/dhigN5 Maximize Your Medicare Facebook Group: https://www.facebook.com/groups/32134 Book website: http://www.maximizeyourmedicare.com Twitter: https://twitter.com/JaeOhCFP Twitter: https://twitter.com/MaxYourMedicare