what is the income limit for obamacare 2023

what is the income limit for obamacare 2023

9 months ago 28
Nature

For 2023, to be eligible for assistance under the Affordable Care Act, you must earn between 100% – 400% of the poverty level. That is $13,590-$54,360 for an individual and $27,750-$111,000 for a family of four

. The income limits for health insurance subsidies are based on the federal poverty level (FPL), which is issued every year by the Department of Health and Human Services (HHS). For most people, health insurance subsidies are available if your income is between 100% and 400% of the FPL. For 2023, the FPL income numbers used to calculate eligibility for Medicaid and the Children's Health Insurance Program (CHIP) are $14,580 for an individual and $30,000 for a family of four

. The Inflation Reduction Act extends eligibility for premium tax credits to reach people with incomes over 400% FPL, meaning that these consumers must contribute no more than 8.5% of their income toward the benchmark silver plan

Read Entire Article