ObamaCare Subsidies: Uninsured Unclear if They Qualify
According to a recent Princeton Survey poll, 58% of uninsured Americans are unclear about whether they qualify for subsidies with the new Health Insurance Exchange (HIX). Hundreds of millions of dollars are being spent to educate the public about the new ObamaCare “metal” plans known as the Bronze Plan, Silver Plan, Gold Plan, and Platinum Plan, and yet still more than half of the targeted group is unaware of what they qualify for.
ObamaCare Subsidies: What are they?
There are two types of subsides available with the new Exchange plans.
- Federal Premium Subsidies: This helps with monthly costs
- Federal Cost-Sharing Subsidies: This is to help with deductibles, copays, and coinsurance
How Do I Qualify for Subsidies?
Subsidies are based off of your income and what percentage of the poverty line you are above. So, premium subsidies are for those who fall between 100-400% of the FPL, roughly $11,490 to $46,000 for individuals, while cost-sharing subsidies are only for those between 100-250% of the FPL, and only available on the Silver Plan. This can all seem confusing, we totally understand, so if you want to know if you qualify for subsidies call 800-930-7956.
For any further questions about ObamaCare contact Medicoverage for assistance.
Comments and Questions
Click to leave a CommentComment from Lillian Hullen on October 15, 2013
Can my daughter, age 22 who is a full time student at rutgers university get health insurance through Obamacare? She has no income.
MEDICOVERAGE AGENT RESPONSE
Lillian,
Thanks for the question. She can get insurance through the new ObamaCare plans, but if she has no income she may not qualify for subsidies. Two other options are: 1) She is able to stay on a family plan until she turns 26 2) she should check with Rutgers to see if they offer student plans. To learn more about plans that are right for your family call us at 800-930-7956.
-Chris from Medicoverage.com