You may be eligible for a health insurance subsidy in 2018 if your total household income falls within certain limits.
The income cutoffs are tied to the Federal Poverty Level and are adjusted each year.
The 2018 figures are in the chart below.
To use the chart:
- Locate the number of people in your household along the top row. This is the number of people on your federal tax return.
- Look in the corresponding column to see if your projected 2018 adjusted gross income (AGI) falls within the limits shown. (AGI is the figure on line 37 of your Form 1040.)
If you think your total 2018 household AGI will be within the limits, you may be eligible for a subsidy.
Income Limits for 2018 Health Insurance Subsidy
| # People in Your Household | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| You may qualify for a 2018 premium subsidy if your yearly income is between …. | $12,060 -$48,240 | $16,240 - $64,960 | $20,420 -$81,680 | $24,600 - $98,400 | $28,780 - $115,120 | $32,960 - $131,840 |
| You may qualify for a premium subsidy AND a cost share reduction if your yearly income is between… | $12,060 - $30,150 | $16,240 - $40,600 | $20,420 -$51,050 | $24,600 - $61,500 | $28,780 - $71,950 | $32,960 - $82,400 |
Source: Federal Poverty Level Guidelines
Enroll in 2018 Health Insurance
You can enroll in a 2018 health insurance plan between November 1, 2017 and December 15, 2017. This is open enrollment. Your coverage will be effective on January 1, 2018.
Find out if you will qualify for a subsidy AND obtain the subsidy by buying your health insurance through your state’s exchange. If you live in Virginia, visit www.enrollvirginianow.com to view plans and enroll.
DC residents – visit www.dchealthlink.com.
In Maryland, visit the Maryland Health Connection.
VA Medical Plans: Our income is quite variable; it may be below $65k. When they say “income,” do they mean Adjusted Gross Income on the IRS forms? If we aren’t sure, and we pay for our insurance but when we file our income is below that level, will we get a rebate? Thanks.
Hi John. Thanks for being in touch. The short answer is yes. You make your best guess of your projected income when you apply. You get the subsidy based on that projection, and it is reconciled when you file your taxes. If you know mid-year that you are tracking for a substantially different income than projected, it is best to notify the Marketplace of the change so your subsidy can be recalculated. Here is an article we posted a couple of years ago on this subject, but it is still valid: https://vamedicalplans.com/2014/05/20/how-do-premium-tax-credits-work-if-my-reported-income-is-inaccurate/