Handy guide to your ACA (Obamacare) subsidies

[superpatriotman]

http://finance.yahoo.com/news/obamacare-subsidies-much-100400152.html

Your income: Anyone earning up to 400% of the poverty line will be eligible for a subsidy, which is up to $45,960 for an individual and $94,200 for a family of four.

The lower your income, the larger your subsidy. For instance, those making $17,235 a year will pay no more than 4% of income, or $57 a month, while those with incomes between $34,470 and $45,960 will pay a maximum of 9.5% of income, or $364 a month. The federal government will cover the rest.

Anyone earning more than $45,960 would be responsible for the entire tab on the Obamacare health plan of his choice.
In addition to premium subsidies, those making less than 250% of the poverty line, or $28,725 for a single person and $58,875 for a family of four, are eligible for extra subsidies to defray out-of-pocket costs, such as deductibles and co-payments.

When signing up for Obamacare, enrollees can apply for an advanced subsidy by estimating their income. Payments go directly to the insurer. Their subsidy level is then adjusted once they file a tax return with their actual income for the year, so in many cases they may have to repay some of the subsidy if they underestimated or get a refund if they thought they'd earn more than they actually did.

Enrollees can also opt to pay the entire premium up front and get a refund at tax time.

more at link

[meow2u3]

1. Sounds like premiums are on a sliding scale for those with incomes up to 4x the poverty line

The higher the income, the higher the premium. That sounds fair to me.

No wonder repukes are trying to defund the ACA. They don't like the idea that "those people" aren't going broke because of a hospital stay. Nor do they like it when we finally get what we pay for in terms of health insurance. They want their legalized racket back.