Confused on health-care subsidy.

[Texasgal]

How to you know that you are eligible for one?

I've been to healthcare.gov and I am more confused than ever!

Can someone explain this to me like a two year old?

Thanks!

[lostincalifornia]

1. you can go to coverca.com, and use the shop and compare tool. https://www.coveredca.com

Yes, it is California, not Texas, but whether you qualify for the subsidy is the same in all states. Also Kaiser has a similar tool

http://kff.org/interactive/subsidy-calculator/

In general, the Modified Adjusted Income rules are as follows:

To get a subsidy, the couple's modified adjusted gross income for 2014 income would need to fall below $62,040, which is 400 percent of poverty for a family of two. (For a single person, the cutoff is $45,960. For other size households, see www.tinyurl.com/pwugnus.)

[Texasgal]

6. Thank you!

I'm trying to figure all this stuff out. I appreciate the link.

[LAGC]

2. Basically if you are making between 100% and 400% of poverty-level income, you qualify.

For individuals this is around $11500 to $46000.

[enlightenment]

3. I have a question about those percentages.

Everyone keeps going on about 400% - but if you go to the Kaiser subsidy calculator and enter information for an individual:

US average
Age: 33 (this is the median age in the US, I believe)
single, no dependents, non-smoker
not covered by employer plan

Then the income you can enter that is eligible for a subsidy is not "around" $46000 - it's $32214 (exactly - which gives you a $1 subsidy).

Where does the 400% come into it?

[LAGC]

4. Really? Everything I've read says 400%.

I wonder if geography has anything to do with it? Have you tried different zip codes?

I thought it was tied to the Federal poverty level though, so this is news to me.

[enlightenment]

5. Okay - I didn't enter 33 as the age.

I thought I did. I entered 30.
If you enter 33 (with all other variables the same), you get a $160 annual subsidy - so the difference is age.

A 32 year old would get a $122 subsidy for the year.

However, if the income of the 32 year old went up to $33000 they would not receive a subsidy.

Hell. I don't know.


edited: location doesn't make a difference, as far as I can tell

[Sienna86]

7. Another question on the subsidy

As I understand, if my employer offers insurance to me, a retired employee, I cannot take advantage of other plans offered under ACA or the subsidy. Is that correct?

[rucky]

9. You can sign up for an ACA plan, but you won't qualify for a subsidy.

Your employer's plan will probably beat it out, but it's worth checking things out for comparison.

[PasadenaTrudy]

8. I thought I would get a subsidy

I'm single, make $45K a year. But no, I don't qualify. Maybe age or location changes it? Don't know...