Jeff Janosick - Health Insurance Blog

Advanced Premium Tax Credit (Subsidy) Examples

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Here are a few examples of how Advanced Premium Tax Credits (subsidies) work ...

 

Example 1: Single individual, 45040 zip code, 60 years old, self-employed, gross income is $60,000 but after write offs and expenses, Adjusted Gross Income (line 37 of tax return) was $32,000. Based on Adjusted Gross Income income of $32,000, this individual would qualify for an advanced tax credit of $269.76 per month. So a Silver Level Humana plan that costs $459.11 would end up running this individual $189.35 a month after applying the advanced premium tax credit.

 

Example 2: Family of four, 45238 zip code, 38-year old, 35-year old, 4-year old, 3-year old, employed with no employer based health insurance, Adjusted Gross Income is $42,000. This family would qualify for an advanced tax credit of $511.93 per month. A Silver Level Humana plan that runs $632.34 would cost this family $120.41 a month after applying the advanced premium tax credit.

 

 

Get a quote online now, This email address is being protected from spambots. You need JavaScript enabled to view it. , or call me at 800-750-6530 to discuss your options.

 

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If you have a pre-existing condition or want to see if you qualify for a health insurance tax credit to reduce the cost of health insurance, I can help!

 

If you've already started an application on Kynect (the Kentucky exchange) and have questions, I can help.  Add me as your agent when you log into Kynect.  Click on Assisters on the top menu and then "Get Help" under "Find a Local Health Insurance Agent".  Search for me (Jeff Janosick) and select "Add".  Once you do this, I can review your plan options with you. 

 

If you are in Ohio, Indiana, Missouri, or Wisconsin, I can help with healthcare.gov applications.  When you start your application, add me as your agent by entering my name (Jeff Janosick), my FFM user ID which is jjanosick9546, and my NPN number which is 10935898.  

 

Adding me as your insurance agent does not cost you anything extra and you can use me as your single point of contact for questions/issues. Click here to see why you should work with me.

 

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