The health care law established a federal tax credit that can help lower what you pay each month for health insurance you buy on your own. If you qualify for the tax credit, you can choose when to take it – in advance or when you file your tax return. There are pros and cons to each choice, so make sure you understand all the details.
The tax credit is available to a wide range of income levels. Even if you think your income might be too high to qualify, you might be surprised.
Tax credits depend on income and family size and are available for people making up to 400 percent of the Federal Poverty Level:
with an income up to $45,960*
|Family of 4||
with an income up to $94,200*
|Family of 5||
with an income up to $110,280*
|Family of 6||
with an income up to $126,360*
|Family of 7||
with an income up to $142,440*
|Family of 8||
with an income up to $158,520*
The federal government's HealthCare.gov website can confirm if you're eligible for the tax credit – and how much it might help you.
The federal government's HealthCare.gov website can help you see if you might be eligible for the tax credit – and how much it might help you. Find Out
This is an estimate for a 2014 plan and does not include any cost savings you may be eligible for from the federal government. Your actual rate will depend on information entered in your application for coverage.
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