Health subsidies: How much do you qualify for?

The Associated Press
Associated Press

Starting next year, President Barack Obama's new health care law will offer subsidies to help people buy private health insurance on state-based exchanges, if they don't already get coverage through their employers. The premiums paid by taxpayers will be tied to their income, with the government subsidies making up any shortfall.

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Single adult

Age: 30

Income: $30,000

Annual cost of health insurance: $3,440

Government subsidy: $932

Annual premium paid by taxpayer: $2,509

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Family of four

Age of policyholder: 30

Family income: $30,000

Annual cost of health insurance: Eligible for Medicaid, the government-run health insurance program for the poor.

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Family of four

Age of policyholder: 40

Family income: $50,000

Annual cost of health insurance: $12,130

Government subsidy: $8,745

Annual premium paid by taxpayer: $3,385

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Family of four

Age of policyholder: 50

Family income: $75,000

Annual cost of health insurance: $16,858

Government subsidy: $9,733

Annual premium paid by taxpayer: $7,125

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Family of four

Age of policyholder: 60

Family income: $90,000

Annual cost of health insurance: $24,042

Government subsidy: $15,492

Annual premium paid by taxpayer: $8,550

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Note: Premiums are estimates of average premiums for 2016, by the Congressional Budget Office.

Source: The Henry J. Kaiser Family Foundation.

Online: http://healthreform.kff.org/subsidycalculator.aspx