Taxable social security payments, IRA contributions, and taxable IRA interest aren’t deducted from Modified AGI. Your Modified AGI is used to determine subsidies.
Only those with Silver marketplace plans, who make less than 250% FPL, can get cost assistance to lower deductibles. $6,600 for an individual $13,200 for a family.
King V. Burwell is a lawsuit that challenges the legality of subsidies issued by the IRS on behalf of HealthCare.Gov under the Affordable Care Act (ObamaCare).
Good morning. I currently make $3250 a month NET. After withholdings like Taxes, SS, Medicare etc, I receive $2632.08. Of that amount child support is automatically taken out in the amount of $1311.54 which is 50% of my current salary. I get the burden of paying taxes on the child support. I get that. What… Read More
I have been trying to get an answer to the following two questions, but no one seems to know the answer and instead of useful information tries to give me the party line. As you know a case is in the Supreme Court to determine if the government can actually give subsidies to anyone who… Read More
How Do Cost Sharing Reduction Subsidies Work? ObamaCare’s Cost Sharing Reduction Subsidies (CSR) lower out-of-pocket costs, based on income, for Silver plans bought on the Health Insurance Marketplace. Along with Premium Tax Credits, ObamaCare’s Cost Sharing Reduction subsidies lower what you pay for out-of-pocket costs like deductibles, copays, and coinsurance, making health insurance coverage more… Read More
How to Calculate Tax Credits and Subsidies for Health Insurance Sold on the Health Insurance Marketplace Our ObamaCare calculator will help you calculate tax credits and subsidies for health insurance sold on the Health Insurance Marketplace. Use this quick health insurance tax credit guide to help you understand the process. Or, just use one of… Read More
ObamaCare Subsidies – Premium and Out-of-Pocket Cost Assistance on Marketplace Plans Explained ObamaCare subsidies help reduce the cost of your premiums and out-of-pocket expenses based on your income. These subsidies are only available on plans sold through the Health Insurance Marketplace. Let’s break down what subsidies are, how they function, and how you can apply… Read More
Understanding the December 2024 Health Plan Enrollment Deadline Today is the last day to enroll for coverage that starts January 1st, 2025. The December 15, 2024, deadline for health plan enrollment is crucial for ensuring that health coverage begins on January 1, 2025. Missing this deadline means coverage will not start until February 1, 2025,… Read More
The deadline for enrolling in 2025 health insurance is January 15 2025 in most states. However, some states have unique deadlines. This page covers each state’s deadline for the 2025 plan year.
The Affordable Care Act (ACA), commonly referred to as ObamaCare, has fundamentally transformed the landscape of health insurance in the United States. A significant feature of the ACA is its provision of cost assistance, which makes health insurance more accessible and affordable for lower and moderate-income individuals. As we approach 2025, key enhancements to this… Read More
There is no Obamacare subsidy cliff for 2025 open enrollment, that means families will not lose out on tax credits simply for making over 400% of the poverty level.
“Open enrollment 2025” refers to the designated period in late 2024 when individuals, families, and businesses have the opportunity to select their health insurance plans for the subsequent year. This enrollment window is of paramount importance as it provides a specific timeframe for people to secure, update, or renew their health coverage, which will become… Read More
Mike Johnson Criticizes ACA and Promises Reforms At a recent event in Pennsylvania, House Speaker Mike Johnson criticized the Affordable Care Act (ACA), commonly known as Obamacare, and pledged to implement substantial healthcare reforms in the United States if Donald Trump were to secure the presidency in the upcoming election. Republican Agenda for Healthcare Reform… Read More
For the 2025 coverage year, Open Enrollment begins on November 1, 2024, and ends on January 15, 2025, in most states. To have coverage that starts on January 1, 2025, you need to enroll by December 15, 2024.
This page features a 2025 ObamaCare eligibility chart, the 2024 federal poverty level used for 2025 subsidies, and a subsidy calculator. ObamaCare Cost Assistance To get assistance under the Affordable Care Act, you generally must earn between 100% – 400% of the poverty level. For 2024 coverage, that is $15,060-$60,240 for an individual and $31,200-… Read More
The 2024 Federal Poverty Guidelines (for 2025 Cost assistance and 2024 Medicaid/CHIP) Below are the 2024 Federal Poverty Guidelines that went into effect in early 2024 (the ones you use for 2024 Medicaid/CHIP and for 2025 marketplace cost assistance). These guidelines are the key to all cost assistance under the Affordable Care Act. Specifically, these guidelines… Read More
ObamaCare Health Insurance Deadline 2025 ObamaCare’s Open Enrollment period for 2025 health plans starts November 1, 2024, and ends January 15, 2025, in most states. Plans sold during Open Enrollment start as early as January 1, 2025. Open enrollment is the only time of year you can enroll in a health plan, switch plans, or… Read More
The 2024 open enrollment season, from November 1, 2023, to January 15, 2024, in most states, introduces several updates in the Marketplace, particularly in terms of subsidies.
The Affordable Care Act (ACA) open enrollment for 2024 is here. Running from November 1, 2023, through January 15, 2024, open enrollment allows individuals and families to either sign up for new health insurance plans or make changes to their existing ones.
What Happens if I Missed the Deadline for ObamaCare? If you miss the annual deadline for ObamaCare Open Enrollment, you might miss your opportunity for cost-assisted coverage. However, you may still have options for obtaining health insurance. Open enrollment for private individual and family health plans is limited each year. For example, most states have… Read More
The Premium Tax Credit Subsidy Caps By Percentage of Household Income for SLCSP 2024 Premium tax credit caps on 2024 marketplace coverage range from 1.92% to 9.12% of income based on the 2023 federal poverty level. Premium tax credits are tax credits that can be taken in advance as Advanced Premium Tax Credits or at… Read More
Everything You Need to Know About Obamacare Cost Assistance For 2024 We cover everything you need to know about cost assistance for 2024 health plans under the Affordable Care Act (ObamaCare). In other words, here is everything you need to know about Premium Tax Credits, Cost Sharing Reduction Subsidies, Medicaid and CHIP, HSAs, and Medical… Read More
A Groundbreaking Proposal The Republican Study Committee (RSC), a group that includes 175 GOP members of the U.S. House of Representatives, has recently proposed two substantial changes to Social Security and Medicare as part of their federal budget for the fiscal year 2024. These proposals represent significant shifts in the structure and delivery of these… Read More
This page features a 2024 ObamaCare eligibility chart, the 2023 federal poverty level used for 2024 subsidies, and a subsidy calculator. ObamaCare Cost Assistance To qualify for assistance under the Affordable Care Act, your income generally must fall between 100% and 400% of the federal poverty level. For 2024 coverage, this range is $14,580 to… Read More