Sure! However...
You are likely ineligible for a subsidized health plan if you are enrolled in or eligible for health coverage through your employer or through a spouse’s employer.
This is because most employer plans meet the minimum value and affordability standards set by the government. If your job-based plan meets this affordability standard, then you will have to pay full price for a Marketplace plan, which is likely even more expensive!
Want to double-check if you're eligible for a government subsidy?
Follow these steps for 2022 plans:
- Figure out the monthly cost to cover the employee only.
- Multiply that number by twelve.
- Divide the resulting number by the entire household income.
- If the resulting number is LESS than .0961, you are NOT eligible for government assistance.
- If the resulting number is MORE than .0961, wahoo! You ARE eligible for government assistance.
- AKA if your employer plan will require you to spend less than 9.61% of your HOUSEHOLD income in 2022, you are NOT eligible for a tax credit and you can only enroll in a FULL price plan.
Here's an example to help:
Cam is eligible for coverage through her employer for $50/month and estimates that she will be earning $30,000 for 2022.
- Figure out the monthly cost to cover the employee only.
- $50/month
- Multiply that number by twelve, for every month of the year.
- $50 x 12 = $600
- Divide the resulting number by the entire household income.
- $600 / $30,000 = .02
- If the resulting number is LESS than .0961, you are NOT eligible for government assistance.
- If the resulting number is MORE than .0961, wahoo! You ARE eligible for government assistance.
- $600 / $30,000 = .02
Unfortunately, because Cam's share of the premium is less than 9.61% of her income, she is NOT eligible to receive a tax credit through the Marketplace.
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