Many people avoid getting a health insurance because they think that It is too expansive. However, with the tax subsidies from the government, more people than ever can afford to get the coverage they need. So far, 87 percent of those who enrolled in 2015 have coverage
To be eligible for a tax subsidy, there are some basic requirements received financial assistance from the government under the form of a tax subsidy. You must answer:
- US citizen or live here legally
- family income between 100 and 400 percent of the federal poverty level
- coverage must be purchased through a health insurance market
- Not eligible for coverage by an employer
- Not eligible for Medicaid
to see if you qualify to receive a tax subsidy, you must complete an application. Here are some things to note when applying for government assistance.
1. Do not overestimate or underestimate your family income. Miscalculating your income could cause you to receive the amount of the wrong tax subsidy, and you have to do right when you file your taxes. This could mean repay a portion of your grant.
2. If your income changes after you enroll in a health plan, make sure to tell your insurance company or a registration agency. They adjust the amount of your grant you to avoid an unpleasant surprise at tax time.
3. For many people, using tax subsidies is just as confused as filing their income taxes. Some people rely on professional tax preparers or software with filing their taxes. In this way, they avoid the mistakes and maximize reimbursement. We encourage people to contact one of our licensed insurance advisors or use an online tax subsidy calculator to get your grant helps right the first time. GoHealth offer these resources for free, so there is no reason to apply on your own.
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