The Affordable Care Act (ACA) was signed into law by President Barack Obama on March 23, 2010. Often referred to as Obamacare, the law establishes minimum standards for health insurance policies and mandates that everyone purchase some form of health insurance. One of the primary goals of Obamacare is the expansion of coverage to individuals who were previously unable to purchase insurance due to pre-existing conditions.
Applicants can shop for health insurance online in regulated marketplaces administered by either their state or the federal government.
The official site of the Health Insurance Marketplace HealthCare Exchange is https://www.healthcare.gov.
The Affordable Care Act (ACA) was signed into law by President Barack Obama on March 23, 2010. Often referred to as Obamacare, the law establishes minimum standards for health insurance policies and mandates that everyone purchases some form of health insurance. One of the primary goals of Obamacare is the expansion of coverage to individuals who were previously unable to purchase insurance due to pre-existing conditions.Applicants can shop for health insurance online in regulated marketplaces administered by either their state or the federal government.
Obamacare offers subsidies, also known as tax credits, that work on a sliding scale. They limit the amount you pay in monthly premiums to a percentage of your annual income. Most people are eligible for subsidies when they earn 100% – 400% of the FPL.
Please see the chart below and contact us if you’d like to apply for a subsidy.
2022 FEDERAL POVERTY LEVELS CHART
Income between 100% and 400% FPL: If your income is in this range, in all states, you qualify for premium tax credits that lower your monthly premium for a Marketplace health insurance plan. The closer your income is to 400% the less tax credit you will receive.
Income below 100% FPL: If your income is below 100% FPL you will not qualify for tax credit help on a marketplace plan. You will however qualify for Medicaid based only on your income.
White Insurance Agency offers free, comparative quotes on ACA / Tax Credits to Help Pay Premiums from multiple insurance carriers so you can get the best possible rate.
Want to see how much we can save you? Just request a quote to find out.