<p>We paid for COBRA when my daughter turned 26 and was going to be uninsured. She was eligible for 18 months and it was enough time for her to then become eligible for other insurance. It was expensive ($650 a month) but that is what you do for your kid especially if they have known issues. It was not easy.</p>
<p>She is now eligible for ACA which she has been on here in Pa. She is employed.</p>
<p>I am a rule follower. I sleep better at night when I follow the rules.</p>
<p>Bookworm.i think the student has to show income on their taxes. Income means that they also pay taxes on that income. I don’t know the answer though.</p>
<p>Although I have followed the ACA, I’ve already forgotten some of the rules. Does everyone have to file a tax return now? If not, how do they know whether you have subsidy-eligible income versus no income?</p>
<p>A gift is not income. A gift is a gift and has no tax effect unless the annual amount exceeds whatever that gift tax limit is, ($14000 according to Mr Google), and even if the gift exceeds $14k, the tax is owed by the giver; it still is not income to the recipient. HOWEVER, there has been discussion about “putting a kid on the payroll” and paying a child for chores or tasks done around the house, or maybe even for actual work. Depending on how this payment for services is accomplished it could be perfectly legal or kind of shady. Kid and parents would then have to pay at least payroll taxes, but the kid’s earned income could qualify kid for ACA subsidies. Consult your tax advisor! :)</p>