FPL Tax Subsidy Guidelines 138% to 400% FPL

 

DISCLAIMER: Information provided below is for illustrative purposes only. For tax related questions, please consult with a certified financial consultant. Key points and resources are not intended to be a comprehensive guide to Health Care Reform and may change pending further guidance. For additional information, please speak with a Market Certified Agent at Blue Sky Insurance Agency or visit http://www.Healthcare.gov

Beginning in 2014, significant tax subsidies will be available to help individuals purchase individual health insurance coverage through the new state-based public marketplaces.

The following charts calculate the health insurance tax subsidies and estimated premium amounts, by family size and household income.

What are the Health Insurance Tax Subsidies?

Starting January 1, 2014, health insurance tax subsidies will be available for individuals and families whose household income falls between 138%- 400% Federal Poverty Level.  Those who are eligible for advance tax credit subsidies, fall between 138% and 250% FPL and enroll in “Silver” plans through their state marketplace may additional be eligible for cost sharing subsidies. Please speak to an agent for additional details.

The subsidies will cap the cost of health insurance at 2% – 9.5% of household income, if household income is up to 400% above the federal poverty line (FPL).

Individuals are only eligible for tax subsidies if they are not offered qualified, affordable group health insurance through an employer.

Household Size       138%                   150% (94% AV)         200% (87% AV)         250% (73% AV)        400%

1                               $16,394.00              $17,820.00              $23,760.00                $29,700.00             $47,520.00

2                              $22,108.00               $24,040.00            $32,040.00               $40,050.00              $64,080.00

3                              $27,821.00               $30,240.00             $40,320.00              $50,400.00              $80,640.00

4                             $33,534.00               $36,450.00            $48,600.00               $60,750.00               $97,200.00

5                             $39,247.00              $42,660.00            $56,880.00                $71,100.00                $113,760.00

6                            $ 44,960.00             $48,870.00           $ 65,160.00                 $81,450.00               $130,320.00

7                            $50,687.00              $55,095.00            $73,460.00                 $91,825.00               $146,920.00

8                           $56,428.00             $ 61,335.00             $81,780.00                 $102,225.00             $163,560.00

 

To calculate your potential subsidy and/or potential penalties, please visit calculators through this link: Calculators