The Affordable Care Act creates advanceable, refundable premium tax credits to individuals and families with incomes up to 400% of the Federal Poverty Level and cost-sharing subsidies for people earning less than 250% of the Federal Poverty Level. The FPL numbers are announced every January by HHS. Here’s the FPL chart for 2017 for various income levels.
Browsing: Tables & Charts
Here are the monthly premiums people would pay at varying income levels and family sizes for the benchmark plan – the second-lowest-priced silver-level plan in the individual marketplace. The government will pick up any remaining amount and the advance tax credit will be paid directly to the insurance company by the IRS. [Based on 2013 numbers]
Beginning in 2014, ACA-compliant small group plans are limited to 3 to 1 age bands. A 21-year-old’s rate is set at 1.000, and all other employees and dependents are charged based on a factor of that rate. The standard age curve applies to the individual market as well.