New Health Insurance Options & Premium Savings - for Realtors, Entrepreneurs, Business Owners and Higher Income Earners.
Under the Covid 19 relief bill – American Rescue Plan - the calculation for premium discounts and subsidies thru HealthCare.gov have changed.
The "income cap" of 400% of the federal Poverty Level has been eliminated for 2021 and 2022. You may qualify for better insurance at a lower price. Even if your income (line 11 on your 1040) is greater than $51,000 single, $68,000 couple or $104,000 for a family of four – you may now qualify for a premium subsidy on a ACA plan.
A single person in mid thirties with income of $60,000 may now receive a subsidy of some $240 monthly.
Married Couple, mid fifties, earning $85,000 annually; their discount could be about $1,3000 a month.