A lot of people are wondering if they are eligible for subsidies to help cover the cost of healthcare under the new Affordable Care Act. The folks over at the Kaiser Family Foundation have come up with a calculator you can use to see if you’re going to qualify. With this calculator, you can enter different income levels, ages, and family sizes to get an estimate of your eligibility for subsidies and how much you could spend on health insurance.
Middle-income people who are not eligible for coverage through their employer, Medicaid, or Medicare, can apply for tax credit subsidies available through state-based exchanges. Additionally, states have the option to expand their Medicaid programs to cover all people making up to 138% of the federal poverty level (which is about $33,000 for a family of four). In states that opt out of expanding Medicaid, some people making below this amount will still be eligible for Medicaid, some will be eligible for subsidized coverage through Marketplaces, and others will not be eligible for subsidies.
To use the calculator just plug in your income, family size, age and tobacco usage and you’ll get a rough estimate of how the Affordable Care Act might impact you financially. (Note that premiums and eligibility requirements may vary so you should contact your state’s Medicaid office or exchange with enrollment questions.)