Know Whether You Qualify for Federal Aid When Buying Health Insurance

When some people purchase health insurance, they may qualify for a federal subsidy that makes the plan more affordable. This is often referred to as federal aid. Learn more about the qualifications for federal health insurance exchange enrollment in Atlanta, GA.

The Basic Qualification

As you might guess, the initial qualification for federal aid relates to your income. If you make less than the limit, you may possibly qualify for assistance. Note that your household size is also taken into consideration. These two factors together form the initial hurdle to qualifying for a federal subsidy.

Other Relevant Factors

There are a few other ways to qualify for federal health insurance exchange enrollment in Atlanta, GA. People of Alaskan or Native American origin may also qualify for a subsidy. Anyone who is unemployed will also likely receive some form of assistance. Finally, students, or anyone over the age of 26 may be able to benefit from the federal program.

The Types of Federal Aid

When we talk about federal health insurance exchange enrollment in Atlanta, GA, we are talking about two distinct types. First, a Cost Sharing Reduction (CSR) may be obtainable. This program reduces the out of pocket costs associated with health care treatment. Therefore, you can expect to have lower co-payments, deductibles and coinsurance.

The second form of aid is called a premium tax credit. These credits work by lowering the amount of the monthly premium. You can also choose to forgo lower monthly payments, and have the ability to request a tax credit when you file taxes.

Getting Started With Health Care Aid

If you are interested in finding out if you qualify for federal aid, see your options at the health insurance marketplace. This is the first thing you should check before signing up for a new plan.

To receive further information about your health insurance options, contact the Georgia Health Insurance Marketplace at www.georgiahealthinsurancemarketplace.com.

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