When you get health insurance coverage in the Marketplace, you may be able to get lower costs on monthly premiums through federal tax subsidies. The availability of these subsidies depends on your family income number of members. In general, if your income falls within the ranges listed below, you will qualify for some level of subsidy to offset your Marketplace premiums in 2014. The lower your total family income within these ranges, the more subsidies you will receive. Subsidy level depends on income and family size
In general, if your family income falls within the following ranges you’ll qualify to save money on your premiums in 2014. The lower your income within these ranges, the more you’ll save. (The amounts below are based on 2013 numbers and are likely to be slightly higher in 2014.)
- $11,490 to $45,960 for individuals
- $15,510 to $62,040 for a family of 2
- $19,530 to $78,120 for a family of 3
- $23,550 to $94,200 for a family of 4
- $27,570 to $110,280 for a family of 5
- $31,590 to $126,360 for a family of 6
- $35,610 to $142,440 for a family of 7
- $39,630 to $158,520 for a family of 8
(The amounts above are based on 2013 numbers and are likely to be slightly higher in 2014.) At RMIA, we have been diligently training the past several months to become certified experts in helping our clients with Marketplace consultation and enrollment. For assistance with advice or applying for health coverage through the Marketplace please contact our office.
