When applying for health insurance through a state or federal marketplace, you will need to know your expected household income. Expected household income is based on the year you want coverage, not last year’s income. To estimate your expected income, you will need to do the following:
For questions on how to file your expected income in order to qualify for marketplace savings, consult with an experienced agent at Insurance Line One. We began in 2009 to help uninsured families be able to afford health insurance. In less than 10 years, we grew our team from 3 agents to over 50, and we are ready to help you receive comprehensive health coverage at an affordable price. Call (800) 606-1671 for a free quote today.
To qualify for federal subsidies, your income must be between 100% and 400% of the federal poverty line. Currently, individuals with no dependents that have an income between $11,880 and $47,520 are eligible for subsidies. Families of 2 can qualify for subsidies if they have an income between $16,020 and $64,080. Families of 3 can with an income between $20,160 and $80,640 will qualify for federal subsidies. In states that have expanded Medicaid, subsidies are available for enrollees with up to 138% of the federal poverty level For a complete table of the federal poverty levels and an income calculator, visit healthinsurance.org.
In order to qualify for subsidized coverage, you will need to meet the following criteria:
For more information about how to receive Premium Tax Credit to go towards paying monthly premiums, visit this page of the IRS website.
For nearly 10 years, our team of 50 agents has provided American families with affordable health care. We will find a comprehensive plan that meets your needs regardless of your income level. Remember, those who qualify for federal subsidies will receive tax credits in advance to go towards their premium. Call (800) 606-1671 for a free quote and to speak to a friendly agent that will inform you of your options.
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