Qualifying for health insurance subsidies has gotten much easier these days, now that President Biden has extended premium subsidies to those who earn up to 400% of the federal poverty level. That means that millions more Americans can save hundreds of dollars a year on insurance – but it doesn’t mean that everyone qualifies. So what if you don’t qualify for a subsidy? Can you still save money? When you work with an EZ agent, you will! Find out what the qualifications are for a subsidy and how we can help you save even if you don’t qualify.
Because of Biden’s American Rescue Plan Act (ARP), qualifying for subsidies is not as difficult as it used to be. To be eligible, you now must either:
- Have an income at or below 400% of the Federal Poverty Level.
- Have premium payments that exceed 8.5% of your overall household income.
Individuals whose income is lower than 400% the Federal Poverty Level will receive higher subsidies.li
Because of this expansion, more than a third of the people who bought health insurance during the COVID/ARP Special Enrollment Period this year purchased plans for less than $10/month! So it is definitely worth it to take a look and see if you are eligible for a subsidy; an EZ agent can check for you at no cost. It can be confusing trying to figure out what you qualify for, but we can help you every step of the way.
If You Don’t Qualify…
You can still save money! There are still ways for you to save money when purchasing a health insurance plan, by working with a licensed and trained EZ agent: we know all the ins and outs of finding people affordable insurance that works for them. For example, did you know that if you are under 30, or if you qualify for a hardship exemption, you can get a catastrophic plan? These plans are ACA-compliant, and have high-deductibles, but low monthly premiums. They are generally for healthy people who do not foresee ever meeting their deductible because they are in good health.
But what if you are over 30 or don’t qualify for a hardship exemption, or have health issues and need a more comprehensive health plan? Well, you can still save money! EZ can help you because we offer a wide range of health insurance plans from top-rated insurance companies in every state. Because we work with so many companies and can offer all of the plans available in your area, we can help you enroll in a plan that saves you a lot of money – even hundreds of dollars – even if you don’t qualify for a subsidy. There is no obligation, or hassle, just free quotes on all available plans in your area. To get free instant quotes, simply enter your zip code in the bar above, or to speak to a local agent, call 888-350-1890.