Who Can Get Health Insurance Through Obamacare?

Find out who's eligible for an Obamacare government subsidy to buy health insurance.

Laura Adams, MBA
2-minute read

Get Health Insurance through ObamacareQ. I'm confused about Obamacare. Who’s eligible to get financial help for health insurance under the new health care reform law?

A. According to the Affordable Care Act, which has been nicknamed Obamacare, individuals and families with income between 100% and 400% of the federal poverty level are eligible for government assistance.

This means that an individual earning up to about $46,000 and a family of 4 earning about $94,000 would qualify for an upfront tax credit or subsidy that reduces the cost of health insurance.

If you're self-employed, unemployed, or don't have health benefits through an employer, you have the most to gain from health care reform. And even if your employer offers health insurance, you may still qualify for a health care subsidy if the cost at work is unaffordable for your income, 

Starting in 2014, health insurers can no longer deny coverage or raise your rates if you have a pre-existing medical condition. They can only consider your age, family size, residence location, and tobacco use (in most states) to set your health insurance rate.

Use the Obamacare Eligibility Calculator at InsuranceQuotes.com to find out if you're eligible for subsidized health insurance through Obamacare, Medicaid, Medicare, or the Children's Health Insurance Program (CHIP).

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Obamacare Headline on Cash image courtesty of Shutterstock

About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.