Public Exchange eligibility (for the employed)

I will make this post short.  Did you know if your employer offers health coverage that you may still be able to get insurance on the public exchange?  If your insurance coverage through your employer for a plan that is at least 60% actuarial value is greater than 9.5% of your gross income, then you are eligible for obtaining insurance on the public exchange and thus, eligible for the subsidy if your income is less than 400% of the poverty level.

I like examples so let me show you an example.  I recently reviewed an employer’s health plan.  Their high deductible plan for a family was $905 a month.  This means if a person earned under around $114k, they would be eligible to obtain insurance on the public exchange.  Of course a family of 4 would need to earn under around $94k in order to be eligible for a subsidy.

So, if you feel your employer’s health insurance costs too much, there are other options.  More to come…

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