Eligibility for a subsidy on your health insurance is determined based upon your household income level and the number of people in your household.
The income levels are tied to the Federal Poverty Level and are adjusted each year.
For 2016 coverage, here are the income limits:
Subsidy Eligibility for 2016 Health Insurance
|# People in Your Household||1||2||3||4||5||6|
|You may qualify for a premium subsidy if your yearly income is between ….||$11,770 -$47,080||$15,930 - $63,720||$20,090 -$80,360||$24,250 - $97,000||$28,410 - $113,640||$32,570 - $130,280|
|You may qualify for a premium subsidy AND lower out-of-pocket if your yearly income is between…||$11,770 - $29,425||$15,930- $39,825||$20,090 - $50,225||$24,250 - $60,625||$28,410 - $71,025||$32,570 - $81,425|
Source: Federal Poverty Level Guidelines
Virginia Medical Plans Can Help
We can tell you if you will likely qualify for a subsidy AND help you obtain the subsidy when you buy your health insurance through your state’s exchange. In Virginia, visit www.enrollvirginianow.com to see available plans on exchange.
Open enrollment for 2016 plans begins on November 1, 2015. But you can start researching available plans by requesting a quote here.
Let us know if you have any questions. We’ll be happy to help! 703-707-8270.