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.