This calculator shows expected spending for families and individuals eligible to purchase coverage in the Health Insurance Marketplace under the Affordable Care Act. Under the law, maximum contributions to premiums will be based on modified adjusted gross income, while estimates in this calculator are based on the annual income entered by the user. Actual premiums in the Health Insurance Marketplace are not yet known. The premiums in this calculator reflect national estimates from the Congressional Budget Office for 70 percent actuarial value plans, adjusted for premium inflation and age rating. Premiums are shown in two tiers: individual and family (two or more family members), though premiums in the Health Insurance Marketplace will vary based on additional family tiers, which are yet to be determined. Coverage in the Health Insurance Marketplace will begin in 2014, but the spending amounts are estimated in 2012 dollars.
*My estimated tax credit from the government is $0. Why? If your annual household income is not between 100-400% of the federal poverty level, you do not qualify for a tax credit from the government. If your income is below 100% of the federal poverty level, please check with the Montana Department of Public Health & Human Services to determine your Medicaid eligibility.
Use this calculator to find out if you qualify for a subsidy (a form of financial assistance from the federal government). Subsidies can greatly reduce your premium, or the amount you pay for health insurance each month. If you qualify for a subsidy, the only way to get it is through the Health Insurance Marketplace.