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July 17, 2013

Affordable Care Act: Figuring out who's eligible for subsidies

The Kaiser Family Foundation has provided details that can help individuals determine what plans they might want to purchase and how much they might receive in federal subsidies.

The Kaiser Family Foundation has provided details that can help individuals determine what plans they might want to purchase and how much they might receive in federal subsidies.

Enrollment starts Oct. 1, and until then, consumers probably won't have enough information to make their choices. But don't worry. Enrollment lasts until March 30, 2014. That's six months to figure everything out.

People can begin to get familiar with the types of insurance plans that will be available. They're called bronze, silver, gold and platinum, with bronze plans having the lowest premiums and the most cost-sharing (through deductibles and copays) and platinum plans having the highest premium with the least cost-sharing.

Most people will not pay the "sticker prices" for health insurance premiums because they'll qualify for subsidies, Kaiser officials said.

Federal subsidies are available for individuals and families whose incomes are between 100 percent and 400 percent of the federal poverty level. An individual at 100 percent of the FPL would earn $11,490 a year, a family of four would earn $23,550. An individual at 400 percent of the poverty level would earn $45,960, a family of four would earn $94,200.

I've included below the Subsidy Calculator provided by the Kaiser foundation. If you need more information, visit the Kaiser foundation website. Or click here for McClatchy coverage of the Affordable Care Act.

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