Tax Law (Questions About Taxes)/IRA/Obamacare.


Mr Stancil,

Merry Christmas & Happy Holidays.

My question is about income limits for government assistance with medical insurance, Obamacare. I understand that if I earn more than 400% of the poverty rate in my state, about $74,000, that I will be required to pay back the assistance I've received. My family income, married filing jointly, is just a little over that.
My health insurance plan is not qualified for a "Health Savings Account".
I file my taxes in the State of Alaska.

Is it possible for me to avoid repaying that assistance by putting money into an IRA, or somewhere else, to get me below the (roughly) $74,000 income limit?
Does that IRA money have to be payroll deducted or can it be out of pocket now?
Am I overlooking obvious questions?

Sorry to contact you on the holidays. I just learned today that my application for the HSA was denied.

Merry Christmas!


Thanks for your question.

The guidelines specify 400% of your family income, not your taxable income, so at this point it would appear that there is nothing you can do to bring it below the 400% level.

Hope this helps.

John Stancil, CPA

Tax Law (Questions About Taxes)

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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