ObamaCare and the Health Insurance Subsidy - Do You Qualify?

When the final rules of the ObamaCare / Affordable Care Act (ACA) kick in on October 1, 2013, some people will qualify for a government subsidy to help pay for their health insurance premiums.  If your adjusted gross income is up to 400% of the poverty income level for your family size (or just you if you are single), you may be eligible for a subsidy.

Go here http://kff.org/interactive/subsidy-calculator/ to input a few pieces of info to see if you qualify.

If you are part of an employer-sponsored group health plan, you will only qualify for the subsidy IF your employer does not offer a plan that is within the guidelines of the ACA.  If the group premium is more than a specified percentage of your income (varies based on age), then you can go outside the group.  But – in this scenario, your employer would be penalized $3,000 per employee that is in this situation, and chances are, smart employers will be proactive about this and ensure that there will be at least one less expensive plan based on the lower-income employees.  This situation will most likely be uncommon.

But, if your employer does not have a group plan, or you are self-employed (or unemployed/student), you may qualify for the subsidy.

As of today (Sept 17), health insurance premiums for Illinois are not yet available for January 1 effective plans.  As soon as we are privy to that information, we will share it immediately!

In the interim, please contact Tom Manno with questions at 708.646.9280 or tom@mannogroup.com.