With less than a month remaining to enroll in health insurance coverage under Obamacare, CDPHP® is reminding consumers about valuable tax credits that may be available when shopping in the online marketplace.
The deadline to enroll for coverage under the Affordable Care Act is February 15, 2015. Those who miss this cut-off date and don’t qualify for a special enrollment period could face a penalty of $325 per adult and $162.50 per child. The good news is that a lot people qualify for tax credits, which reduces the amount of money they pay out of pocket. Under the law, people with a household income between 100 and 400 percent of the federal poverty level (under $95,400/year for a family of four) may be eligible for these tax credits. To see if you qualify, visit the Kaiser Premium Subsidy Calculator.
If you are an adult in New York state and make less than 138 percent of the federal poverty level, you may be eligible for Medicaid. Visit NY State of Health to find out if you qualify.