The health care exchanges have changed the way people buy insurance by offering consumers the ability to shop and compare plans. But for some, the premiums are still out of reach due to having insufficient income. Instead of going without coverage, there are subsidies available that reduce the amount of the monthly premium, and are available immediately. The only way the subsidies are obtained is by buying a policy through an exchange or Covered California.
How much the applicant receives in subsidies for their health insurance premium depends on where their income falls. A subsidy calculator can help determine if the annual income is low enough to qualify. Typically income has to be anywhere between 100 percent and 400 percent of the federal poverty limit, and annual income can be as much as $92,000 for a family of four.
Are you resident of Los Angeles or any city in California and looking for information about health insurance? Contact Save-On Health Insurance Services, Inc. today!
