With 2014 just around the corner, if you don’t have health insurance, you need to get it. Many people may be able to qualify for subsidies in 2014 under the Affordable Care Act. However, probably half those people have no idea they are eligible.

What Exactly is a Subsidy?

To be put simply, a subsidy just means that you will receive a tax credit that will help offset the cost of your 2014 healthcare. So, in other words, it is cost assistance. As an example, let’s say that the health insurance plan that you want to enroll in is $175.00 per month. If you qualify for a subsidy, which is an advance discount on your health insurance, you may only have to pay $60.00 per month once the tax credit is applied.

Am I Eligible?

If you make under 400% of the federal poverty level, then you are eligible for some level of subsidy under the Affordable Care Act.

If you’re still confused and have questions regarding California health insurance and the Affordable Care Act, please give Michelle Lim Insurance Services Insurance a call now and let us help you.