by Chris Huckins Google+ Email 


25 November 2014

3 Easy Steps to Get Health Insurance Subsidies

Posted in Health Insurance 101

3 Easy Steps to Get Health Insurance Subsidies

Want help paying for health insurance? To meet the qualifications for free money from the government (yes, FREE, but not the sketchy kind of free), start with an insurance plan that's labeled "Covered California". It helps if you have a Certified Covered California Agent along the way. 

Covered California is a marketplace for health insurance. Like most supermarkets carry big brand foodstuffs, Covered California has recognizable plans from Anthem, Kaiser, Healthnet, and more. While most Ralphs shoppers don't need a mayonnaise broker, insurance is more complicated.

The first step to save on health insurance is to help near you in the form of a Covered California Insurance Agent. Even if you end up not qualifying for financial assistance, an agent can still enroll you or shop around for more choices. 

Secondly, start the application. Reporting the correct number of people in the household, even if one person is getting insurance, is an essential step. A good tip to accurately account for each person is to include everyone who's on your tax return.

Remember to estimate your household's gross annual income (before taxes) for the year you're getting insurance. Since it's always the future you'll be dealing with, you have to estimate your annual income to the best of your knowledge. You can adjust this amount later in the year if you lose or earn more.

Third step is a big one: discover how much you can save at the end of the application, thank your Covered California Certified Agent and walk out without paying anything. You're not stealing. Enrollment is free!

The following income levels to qualify for Covered California health insurance subsidies are approximate:

 Chart by Covered California

If you're shopping just for yourself, you qualify for subsidies if you earn a gross annual income between $16,105 and $46,680.

For a household of 2, the combined income should be somewhere between $21,708 and $62,290 to qualify for subsidies.

If there are 3, the household income must be between $27.311 and $$79,160.

A household of 4 qualifies if the reported annual income is between $32,913 and $95,400.

5 in a household must make between $38,516 and $111,640 to qualify for subsidies.

Simple, right? Now go make more babies and/or money so you can get financial aid and high quality health insurance from Covered California. Pass the mayo.