Help Paying Marketplace Premiums: The Basics

Will recent changes to marketplace subsidies continue?

Yes. Enhancements to premium tax credits will continue to help make coverage more affordable in 2024 and through the end of 2025.

For example, for people earning up to 150% of the federal poverty level ($21,870 for an individual in 2024) the premium tax credit will cover the full cost of the benchmark silver plan.  At that income level, people will also be eligible for cost sharing subsidies that substantially reduce deductibles and copays under the benchmark plan.

People with higher incomes – above 400% FPL (or just over $58,320 for an individual in 2024) – will also qualify for premium tax credits that will limit what they have to contribute to the benchmark silver plan to no more than 8.5% of income.  For example, the premium for the benchmark silver marketplace plan for a 60-year old in 2023 was $969 per month. But with tax credits, someone that age with income just above 400% FPL would only have to pay $413 per month for that benchmark plan.

You can use this  subsidy calculator to estimate the premium tax credit amounts that apply to you. 

While we have made every effort to provide accurate information in these FAQs, people should contact the health insurance Marketplace or Medicaid agency in their state for guidance on their specific circumstances.

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