Under the new Affordability Care Act (ACA) many people will qualify for a Federal Subsidy to help cover the cost of Health Insurance. This Federal Subsidy will be paid directly to the insurer each month.
You may be eligible for a Federal Subsidy if you are below the following 2014 income levels :
- Individual approximately $45,960
- Couple approximately $62,040
- Single parent with 2 children* approximately $78,120
- Married couple with 2 children* approximately $94,200
*Please note the amount of Federal Subsidy you qualify for is based upon the number of dependents (children) listed on your Federal taxes.
The Federal Subsidy is also based upon your modified adjusted gross income (adjusted gross income) and this can be found on line 4 of the 1040EZ IRS tax form. This is according to the UC Berkley Labor Center.
To review your Federal Subsidy you can visit the following link http://kff.org/interactive/subsidy-calculator/ provided by the Kaiser Foundation.