Question: Who will be eligible for health insurance subsidies in the California health benefit exchange in 2014?
Answer: California residents will qualify for subsidies called premium tax credits in 2014, if their household income for the taxable year is between 100 percent and 400 percent of the federal poverty level (FPL) for the appropriate family size. have a look at the 2000 FPL guidelines they go up a little bit each year. (Click image to enlarge.)
The amount of the subsidy that an eligible taxpayer can receive will depend on their household income, and is based on the total amount of premiums payable by the consumer on the second-lowest-cost silver plan. Generally, the higher the income the lower the subsidy.
When does the subsidy end? Does the premium subsidy end just below 400% of the federal poverty level, exactly at 400% or just above 400%?
What is the maximum income for a family of four to get a premium subsidy?
When does the subsidy end? Does the cost-reducing subsidy end just below 250% of the federal poverty level, exactly at 250% or just above 250%?
What is the maximum income for a family of four to get a cost-reducing subsidy?
Thanks.