Health Insurance Subsidies 2018 & 2019: What You Need To Know

Quick Summary

Yes, subsidies are still available for 2018
How to know if you qualify for a health insurance subsidy
What are cost-sharing reduction subsidies?
What are advance premium tax credits?
Get started with your subsidy estimate
Great news on what to do if you don’t qualify for a subsidy

How To Know If You Qualify For A Health Insurance Subsidy

There are several requirements to get assistance covering your healthcare.

Family Size – the number of people your household income has to support
Filing Status – married couples must file joint returns.
(this is because the subsidies are based on total household income)
Citizenship – you do not have to be a US citizen.
Immigrants with green cards, refugees, and students with visas can apply
Location – subsidies vary with local living costs, state legislation, and the number of insurance providers
Income – your estimated annual family income is the biggest factor in the subsidy type and amount of health insurance subsidy you can receive.

Cost-sharing reduction (CSR) payments

Cost Sharing Reduction reduces the out-of-pocket costs you pay during a policy period (usually a year) for health care services you receive. It includes your deductible, coinsurance, and copays, which all add up to your out-of-pocket maximum.

Advance premium tax credits (APTC)The

Advanced Premium Tax Credit lowers your monthly health insurance payment or premium.

Get Started with a Subsidy Estimate

You can qualify for a subsidy if you make up to four times the Federal Poverty Level. That’s about $47,000 for an individual and $97,000 for a family of four. If you’re an individual who makes about $29,000 or less, or a family of four that makes about $60,000 or less, you may qualify for both subsidies.

More detailed information is in the chart below.

In just a quick 5-minute phone call, one of our professionals can help you make a subsidy estimate.

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What To Do If You Don’t Qualify For A Health Insurance Subsidy

Many people do not qualify for a health insurance subsidy from the government.

In addition to shopping in your state’s health insurance marketplace, you can shop elsewhere to see if you find a better deal. There might be plans that are not on the marketplace in certain states,

Get help from a pro.

We have great news. There have been significant changes to the health care law. Under the new rules, you may qualify to get better coverage, better benefits, the freedom to go to any medical provider you want, and save thousands on your health care starting today.