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Financial Assistance

A significant number of Americans are eligible for financial assistance through the Affordable Care Act to help them purchase health coverage through the insurance marketplace. Consumers can learn about the assistance they qualify for so they can receive the greatest financial help. Use the subsidy calculator, developed by the Kaiser Family Foundation, to learn about the amount of assistance you may be eligible to receive.

Assistance for Lower Out-of-Pocket Costs

When you obtain coverage through the health insurance marketplace, you may qualify for lower out-of-pocket costs, such as deductibles, copayments, and coinsurance. These savings, through the marketplace cost-sharing reduction, are based on your income and family size. Health insurance companies offering coverage through the marketplace must lower the amount you pay out-of-pocket if your household income is within the following ranges:

  • $11,670 to $29,175 for individuals
  • $15,730 to $39,325 for a family of two
  • $19,790 to $49,475 for a family of three
  • $23,850 to $59,625 for a family of four
  • $27,910 to $69,775 for a family of five
  • $31,970 to $79,925 for a family of six
  • $36,030 to $90,075 for a family of seven
  • $40,090 to $100,225 for a family of eight

Assistance for Lower Costs on Monthly Premiums

When you obtain health insurance coverage through the marketplace, you may also be able to get lower costs on monthly premiums. You will see the amount of savings you are eligible for when you fill out your application. These lower costs are handled with a tax credit that can be applied directly to your monthly premiums, so you receive the lower costs immediately. The amount you save depends on your family size and income. In general, if your income falls within the following ranges, you will qualify to save money on your premiums:

  • $11,670 to $46,680 for individuals
  • $15,730 to $62,920 for a family of two
  • $19,790 to $79,160 for a family of three
  • $23,850 to $95,400 for a family of four
  • $27,910 to $111,640 for a family of five
  • $31,970 to $127,880 for a family of six
  • $36,030 to $144,120 for a family of seven
  • $40,090 to $160,360 for a family of eight

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