Self-employed people who get their health insurance through the Marketplace need to know about the ACA subsidy changes in 2026.
Example: Make too much money and you'll have to pay back all the premiums you received for the entire year. For me, that means *$24,000!!!
Sean Mullaney, an Advice-Only Financial Planner, joins us to discuss various ways to control taxable income and ensure you don't go over the cliff and lose all your Premium Tax Credits.
Disclaimer: The discussion is intended for general educational purposes only and is not tax, legal, or investment advice for any individual. Steve and the Podcast Editor Academy do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.
Key moments:
(00:00) Download the free Handout: https://www.PodcastEditorAcademy.com/cliffhandout
(03:48) What are ACA Subsidies and the Premium Tax Credit?
(10:29) Tip #1: Delay Income
(14:29) Tip #2: Accelerate Expenses
(18:43) Tip #3: Contribute to HSA
(25:00) Tip #4: Contribute to Solo 401(k)
(28:31) Tip #5: Similarly, a SEP IRA
(30:20) Tip #6: Deductible Traditional IRAs
(31:48) Tip #7: Deductible SPOUSAL IRA
(34:57) Get tax-free money out of your HSA
(37:41) Pay yourself back from Roth IRA contributions
(40:53) AVOID doing Roth Conversions
(41:58) Charitable Contributions don't help
(43:09) Planning for next year's health insurance
(45:40) The final tip has a Difficulty Level 10 - but would work (listen for more)
Resources mentioned in the show:
*Disclosure: Steve Stewart estimates the Premium Tax Credit is worth approximately $24,000 to his family. Neither Steve nor Sean make any estimate as to how much the Premium Tax Credit or any other tax planning strategy might be worth to you or any other listener or viewer.
This podcast uses the following third-party services for analysis:
OP3 - https://op3.dev/privacy
