Financial Assistance

Did you know you may be able to get financial assistance for your health insurance?

The Affordable Care Act allows for people to get financial assistance, also known as subsidies or tax credits, to help pay for their health insurance.

 

What financial assistance is available?

You may qualify for two types of subsidies.

  1. Premium Subsidies, also referred to as advanced premium tax credits, may lower the amount of the premium you pay each month.
  2. Cost Sharing Reduction Subsidies limit the maximum out-of-pocket costs. This may lower how much you pay when you go to the doctor, hospital, pharmacy or other healthcare professional.

 

Am I eligible?

To be eligible for a Premium Subsidy your family income must be between 100% - 400% of the Federal Poverty Level.

To be eligible for a Cost Sharing Reduction Subsidy your family income must be between 100% - 250% of the Federal Poverty Level.

For additional information about the povery guidelines, visit the U.S. Department of Health & Human Services website.

 Household
Size

 100%

 125%

 150%

200%

250%

 300%

400%

1

$11,880

$14,850

$17,820

$23,760

$29,700

$35,640

$47,520

2

16,020

20,025

24,030

32,040

40,050

48,060

64,080

3

20,160

25,200

30,240

40,320

50,400

60,480

80,640

4

24,300

30,375

36,450

48,600

60,750

72,900

97,200

5

28,440

35,550

42,660

56,880

71,100

85,320

113,760

6

32,580

40,725

48,870

65,160

81,450

97,740

130,320

7

36,730

45,913

55,095

73,460

91,825

110,190

146,920

8

40,890

51,113

61,335

81,780

102,225

122,670

163,560

9

45,050

56,313

67,575

90,100

112,625

135,150

180,200

10

49,210

65,513

73,815

98,420

123,025

147,630

196,840

 

Use our quick check tool to see if you may be eligible. It is easy and takes less than 1 minute. 

Subsidy Quick Check

 

How do I get financial assistance?

To see if you qualify for a subsidy and to determine the amount of assistance you may be eligible to receive, you must apply through the health insurance marketplace at HealthCare.gov or call 1-800-318-2596.

 

How do I enroll in a plan with financial assistance?

  1. If you receive a Premium Subsidy you can apply for any plan available through the health insurance marketplace at HealthCare.gov.
  2. If you receive a Cost Sharing Reduction Subsidy, you must apply for a silver level plan through the health insurance marketplace at HealthCare.gov. Cost Sharing Reduction Subsidies can only be applied toward silver level plans.

 

What if I had a subsidy in 2016?

It is important that you update your information with the health insurance marketplace at HealthCare.gov to make sure you get all the financial assistance you are eligible to receive. If you did not elect to have the health insurance marketplace check your tax returns, you must recertify your subsidy amount, or you will not receive a subsidy in 2017.