Richmond, Va. (PRWEB) May 02, 2014
Wondering how to afford health insurance?
It might be more in range than you thought, wrote Janet Rickman in the latest Health Journal blog post on health care reform. Rickman, a Benefits Consultant with Experient Health, a Virginia Farm Bureau Company, is one of several consultants guest blogging for the Williamsburg, Va. magazine on health care reform.
In Rickman's latest post, she examines and explains subsidies.
"For a lot of Americans, there’s help out there," Rickman wrote. "But figuring it all out—such as who’s eligible—can be a little tricky."
In order to be eligible to receive financial help with health insurance, known as a subsidy, one has to sign up for a plan through the government marketplace—healthcare.gov. Those who get insurance through their employer are not eligible for the subsidy.
"Here’s another important point: if you can get insurance through an employer, but choose not to, you’re not eligible for a subsidy," Rickman wrote. "If an employer makes insurance affordable for the employee (meaning it can’t be more than 9.5 percent of one’s monthly salary), the family isn’t eligible for the subsidy, either. It’s just the way the law is."
For those who qualify for a subsidy, here’s how it works.
"The government determines how much subsidy someone can get based on the federal poverty level," Rickman wrote. "As a rule of thumb, if your family income is less than four times the federal poverty level, and you’re not eligible for employer- or public-assisted health care such as Medicaid or Medicare, you can receive a subsidy to help pay for insurance."