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Who Qualifies for a Government Subsidy?

To help make health care more affordable, the federal government offers advance premium tax credits, or subsidies, to low-to middle-income individuals and families. Your subsidy is an advance premium tax credit and is applied directly to your premium. Government subsidies reduce the amount you pay for your insurance plan.

To be eligible for a subsidy, you must meet certain requirements.

  • Be between 100% and 400% of the federal poverty level (FPL).
  • Not eligible for public coverage, such as Medicaid, the Children’s Health Insurance Program,  Medicare or military coverage, such as Tricare.
  • Not have access to minimal essential coverage through an employer. (An exception may be made if your employer’s plan does not cover at least an average of 60% of covered benefits or if the employee’s share of the premium is more than 9.5% of his or her income.  Employers can tell you if their plans meet these criteria.)

Subsidies can be used on any plan you choose except for grandfathered plans and catastrophic plans for those under 30. How much of a subsidy you qualify for is based on income and household size.

Our free BCBSNC Rate Quote offers a calculator to determine if a subsidy may be available to you.

 2016 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES AND THE DISTRICT OF COLUMBIA   
Persons in family/household 100% Poverty guideline 250% Poverty guideline 400% Poverty guideline

1

$11,770 $29,425 $47,080

2

$15,930 $39,825

$63,720

3

$20,090 $50,255

$80,360

4

$24,250

$60,625

$97,000

5

$28,410

$71,025

$113,640

6

$32,570 $81,425

$130,280

7

$36,730 $91,825

$146,920

8

$40,890 $102,225

$163,560

For each additional person, add: $4,020 $10,050

$16,080

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For more information on Blue Cross Blue Shield of North Carolina insurance coverage, the Marketplace and healthcare gov to apply for your subsidy, please visit our website at www.nchealthplans.com or call our toll free number 888*765-5400 and speak with one of our experienced and professional agents.  Let us help you navigate through the Health Care Reform changes in accordance with the new regulations of The Affordable Care Act, also known as Obama care.

 

 

 

 

 

 

One Response to “Who Qualifies for a Government Subsidy?”

  1. OPEN ENROLL STARTS TODAY - NOVEMBER 15TH Says:

    […] pay for coverage through the ACA. If your household income is between 100% and 400% of the federal poverty level, you do not have coverage through an employer, and you meet certain other requirements, you will be […]

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