Affordable Care Act - Individuals
How Do I Figure If I Am Entitled To A Subsidy?
Generally, uninsured individuals who purchase health insurance through an online health insurance marketplace or exchange and have income no greater than $94,200 for a family of 4, may be eligible for a government subsidy to help pay for health insurance. The subsidy will be in the form of a tax credit.The credit or subsidy will be applied to your insurance premium when you purchase it in 2014. To figure out if you’re eligible for a subsidy, you need to determine your household size and household income and see where it falls within the federal poverty line. Subsidies are available up to 400% of the federal poverty line. Up to 133% of the federal poverty line, a family needs to devote 2% of its income towards the premium, with the balance subsidized by the government. The subsidy then decreases as income goes up.
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