Will I qualify for lower premiums under the Affordable Care Act?

If you don't have access to an affordable health insurance plan through an employer, you might qualify for lower premiums when you purchase a plan through the exchange. It depends on your household income and family size.

Pay Lower Premiums

Based on your household income, you might qualify for a tax credit called the Advance Premium Tax Credit. This credit is applied immediately to your premium to reduce the cost you pay each month for health insurance. Think of it like a "discount" on how much you pay for health insurance each month.

In simple terms, the tax credit (often called "tax subsidy") is money that the goverenment will pay each month to the private health insurance company of your choice to make your private plan affordable for you. Some people will qualify for plans for as little as $1 per month after the government pays their part.

Pay Lower Out-of-Pocket Costs

You might also qualify for lower out-of-pocket costs on things like copays and deductibles when you use your health plan. This is also based on household income and family size.

Estimate Your Savings:

You can use these income levels as a guideline to estimate if you might be eligible for lower premiums starting in 2014. (These are 2013 income amounts and are likely to be higher in 2014)

  • $11,490 to $45,960 for individuals

  • $15,510 to $62,040 for a family of 2

  • $19,530 to $78,120 for a family of 3

  • $23,550 to $94,200 for a family of 4

  • $27,570 to $110,280 for a family of 5

Try our calculator

Use the KFF Subidy Calculator (same one used by Healthcare.gov) to see what you're expected to pay for health insurance in 2014. Please note: The calcuator shows you your annual cost, so divide your cost by 12 if you want to see how much you'll be paying monthly.

Try the calculator here.

Or contact us! We're trained and authorized to help. Call us, toll-free at 855-505-2443 or email us.

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