In order to make health insurance coverage affordable for a larger number of people, insurance subsidies will be available to help offset the cost of premiums. To be eligible for a subsidy, you must not have access to a qualified plan through your employer, and your income needs to fall between the range of 100%-400% of the Federal Poverty Level (FPL). (If you make less than 133% of FPL, you will qualify for Medicaid.)
Under the Affordable Care Act (ACA), premium costs may fall between 2%-9.5% of your annual income, and are scaled up or down depending on how much money you make. For next year, individuals making less than $45,960, and families of four making less than $94,200 in 2013 will qualify for a subsidy.
Please see the chart from Zane Benefits below to find out if you will qualify for a subsidy, and the maximum amount your premium can cost per month next year.
Here at Sage Benefit Advisors, we are certified to help you navigate Colorado’s health insurance exchange (Connect for Health Colorado). We can also assist with policies outside the Exchange, and are trained to give you the best advice in either case. Contact us today at 970.484.1250!