Need help explaining the health care law

[frazzled]

2. Tell them families earning up to $88,200 will qualify for credits to help buy it

These subsidies are the biggest part of the ACA. And yet everyone ignores them. The poorer you are, the more of a subsidy you get, but even people earning up to $88K for a family of four will get some kind of subsidy.

Sliding-scale premium credits will be available to people with incomes up to 400 percent of poverty who purchase health plans through the exchanges. The credits will be tied to the silver plan and will cap premium contributions for individuals and families to about 3 percent of income at just over 133 percent of poverty ($14,404 for a single adult or $29,327 for a family of four) and gradually increase to 9.5 percent at 300 percent to 400 percent of poverty ($43,320 for a single person and $88,200 for a family of four) (Exhibit 1).

In addition, cost-sharing credits and lower annual out-of-pocket limits will limit cost-sharing for low- and middle-income individuals and families. Credits will limit cost-sharing such that the costs covered by the silver plan (70 percent of costs covered) will increase to 94 percent for those with incomes up to 150 percent of poverty, 87 percent up to 200 percent of poverty, and 73 percent up to 250 percent of poverty (Exhibit 1). In addition, out-of-pocket expenses will be capped for families earning between 100 percent and 400 percent of poverty from $1,983 for individuals and $3,967 for families up to $3,967 for individuals and $7,933 for families.


http://www.spotlightonpoverty.org/exclusivecommentary.aspx?id=ba21673c-b1ac-44b7-8f76-50e856cdb9b5