Two Ways to Save on Health Insurance

If you’re lower-income, you may be able to qualify for premium tax credits or cost-sharing subsidies that make insurance more affordable. If you understand how the subsidies and tax credits work you’ll be in a better position to purchase the product that suits you best. 

Save on Monthly Insurance Premiums

If you buy a qualified health insurance or “On-Exchange” plan, you may be able to get a premium tax credit that lowers what you pay in monthly premiums.

Your tax credit will depend on your 2025 household size and income. Your household income must be between 100%-400% of the Federal Poverty Level. You can calculate your estimated premium tax credit here. 

TIP: You can apply part or all of this tax credit each month to your premium payments. Your tax credit will be sent directly to your insurance company, so you pay less for your premiums each month. This is called “advance payment of the premium tax credit.”

Save on Out-of-Pocket Costs

If you buy a silver level qualified health insurance plan, you may be able to save money on out-of-pocket costs by qualifying for a cost-sharing subsidy. Your out-of-pocket costs include your deductibles, coinsurance, and copayments.

Whether you save on out-of-pocket costs will depend on your household size and income. Your household income must be between 100%-250% of the Federal Poverty Level. 

IMPORTANT: You can get these savings on out-of-pocket costs only if you enroll in a plan in the Silver category. 

How We Can Help

Our licensed agents will determine if you qualify for a potential tax credit and cost-sharing subsidy

If you do qualify, they will help you apply for the financial assistance and enroll you into the best financial assistance eligible plan for you.

If you do not qualify, a major medical plan off of the government exchange may be your best option. Our agents will help you decide and enroll you into the plan of your choosing, on or off the government exchanges.

Call 855.267.0609 to speak one-on-one with a health insurance agent licensed in your state.

Source: https://www.healthcare.gov/lower-costs/save-on-monthly-premiums/
Source: https://www.healthcare.gov/lower-costs/save-on-out-of-pocket-costs/