Beginning in 2014, the Affordable Care Act provides tax credits for certain individuals and families. The credits may be available for persons that are:
- Under age 65
- Not eligible for Medicare
- Not eligible for Medicaid
- Not eligible for the Children’s Health Insurance Program (CHIP)
- Not offered affordable coverage through their employer*
*An eligible employer-sponsored plan is affordable for related individuals if the portion of the annual premium the employee must pay for self-only coverage (the required contribution percentage) does not exceed 9.5% of the taxpayer’s household income.
The subsidy calculator can assist in examining the impact of the credits at different income levels, ages and family sizes.
Click the link to access the subsidy calculator created and maintained by the Kaiser Family Foundation Subsidy Calculator.
Note: This calculator shows expected spending for families and individuals eligible to purchase coverage in the Exchange under the Affordable Care Act. Under the law, maximum contributions to premiums will be based on modified adjusted gross income, while estimates in this calculator are based on the annual income entered by the user. Actual premiums in the Exchange are not yet known. The premiums in this calculator reflect national estimates from the Congressional Budget Office for 70% actuarial value plans, adjusted for premium inflation and age rating. Premiums are shown in two tiers: individual and family (two or more family members), through premiums in the Exchange will vary based on additional family tiers which are yet to be determined. Also see additional assumptions for the calculator, located on the site page itself.