Do you qualify for Obamacare subsidies?
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Obamacare Subsidies FAQ
What Are Obamacare Subsidies?
Obamacare subsidies are financial assistance programs created under the ACA to help lower the cost of health insurance for qualifying individuals and families. The two main forms are premium tax credits, which reduce your monthly premium, and cost-sharing reductions, which lower out-of-pocket costs like deductibles and copayments.
These subsidies are based on your household income relative to the federal poverty level, as well as other factors like family size and location. The goal is to make quality healthcare accessible and affordable for more Americans.
Who Qualifies for Obamacare Subsidies?
You may qualify if your annual household income is between 100% and 400% of the federal poverty level—though recent expansions have allowed some households above this range to receive assistance if premiums would otherwise exceed a set percentage of income.
You must also purchase coverage through the Health Insurance Marketplace and not have access to affordable employer-based coverage or other qualifying insurance. Eligibility can change from year to year, which is why using our calculator before enrolling is so important.
How Are Subsidies Calculated?
Subsidies are determined by comparing your income to the cost of the “benchmark” Silver plan in your area. The government sets a maximum percentage of your income you should spend on premiums, and the subsidy covers the difference between that amount and the cost of the benchmark plan.
Our calculator uses the same formula applied by the Marketplace, giving you an accurate estimate in minutes. This allows you to shop for plans knowing exactly how much assistance you can expect.
Can I Lose My Subsidy?
Yes. If your income or household size changes during the year, your eligibility and subsidy amount can also change. For example, earning more than expected could reduce or eliminate your subsidy, while earning less might increase it.
It’s important to report life changes—such as marriage, divorce, birth of a child, or a significant income shift—to the Marketplace as soon as possible. This helps prevent surprises during tax season when subsidies are reconciled.
Get Started Today
Use our Obamacare Subsidies Calculator to see how much you could save on health insurance. Then, let Aqui Health help you compare top-rated plans so you can find affordable coverage with confidence.
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