When you use the Health Insurance Marketplace you may be eligible for premium tax credits and other savings on a private insurance plan
Save money in the Marketplace 3 ways (based on income and family size):
1. Lower costs on your monthly premiums
2. Qualify for lower out-of-pocket costs for copayments, coinsurance, and deductibles.
3. Qualify for free or low-cost coverage through Medicaid* or the Children's Health Insurance Program CHIP**.
When you fill out your Health Insurance Marketplace application, you'll find out how much you can save. Most people who apply will qualify for lower costs of some kind. Source: healthcare.gov
*Medicaid in Texas - Each state has different rules about who qualifies for Medicaid. You can find out whether you can get Medicaid in Texas. Learn more about Medicaid in Texas.
**CHIP in Texas - Texas CHIP covers uninsured children in families with moderate incomes that are too high to qualify for Medicaid. You can find out whether your children qualify for Texas
CHIP. Learn more about Texas CHIP.
Are you eligible
When Open Enrollment starts, fill out an application to see how much you and your family are eligible for if you qualify. Gather this information before you apply:
Savings depend on income and family size
If your 2018 income falls within the following ranges you'll generally qualify for a premium tax credit. The lower your income is within these ranges, the bigger your credit.
- Will you save on health coverage? Do a quick check
$12,060 to $48,240 for individuals
$16,240 to $64,960 for a family of 2
$20,420 to $81,680 for a family of 3
$24,600 to $98,400 for a family of 4
$28,780 to $115,120 for a family of 5
2017 incomes amounts:
$11,880 to $47,520 for individuals
$16,020 to $64,080 for a family of 2
$20,160 to $80,640 for a family of 3
$24,230 to $97,200 for a family of 4
$28,440 to $113,760 for a family of 5
2016 income amounts:
$11,770 to $$47,080 for individuals
$15,900 to $63,720 for a family of 2
$20,090 to $80,360 for a family of 3
$24,250 to $97,000 for a family of 4
Need help with finding out if you qualify for financial assistance, which can help pay your monthly premiums and reduce out-of-pocket costs? Contact me, I'm happy to help!