ACA Obamacare 2024 Subsidies By Income Level
Under the Affordable Care Act ( ACA), eligible individuals and families can apply subsidies to reduce the cost of purchasing health insurance in the federal or state marketplace.
Income Level Thresholds
Of the two types of subsidies established under the Affordable Care Act, Premium tax Credits are the most popular option. To qualify for the premium tax credit, individuals or families must have a net income between 100 percent and 400 percent of the federal poverty line. Depending on where your income falls within the federal poverty line threshold, your expected premium contributions for your insurance can be between 0% and 8.5% of your total income. Alaska and Hawaii are the exceptions to the standardized FPL guidelines as the income limits, threshold, and poverty line are higher in those states.
The chart below shows the FPL guidelines by the number of people in a household and income level ( FPL percentage). The second chart, expected premium contributions, outlines the premium amount, by percentage, based on where your income falls on the federal poverty line.
2024 Federal Poverty Guidelines
| # of People in Household | 100% of FPL | 150% of FPL | 200% of FPL | 250% of FPL | 300% of FPL | 400% of FPL |
|---|---|---|---|---|---|---|
| 1 | $ 13,590 | $ 20,385 | $ 27,180 | $ 33,975 | $ 40,770 | $ 54,360 |
| 2 | $ 18,310 | $ 27,465 | $ 36,620 | $ 45,775 | $ 54,930 | $ 73,240 |
| 3 | $ 23,030 | $ 34,545 | $ 46,060 | $ 57,575 | $ 69,090 | $ 92,120 |
| 4 | $ 27,750 | $ 41,625 | $ 55,500 | $ 69,375 | $ 83,250 | $ 111,000 |
| 5 | $ 32,470 | $ 48,705 | $ 64,940 | $ 81,175 | $ 97,410 | $ 129,880 |
| 6 | $ 37,190 | $ 55,785 | $ 74,380 | $ 92, 975 | $ 111,570 | $ 148, 760 |
| 7 | $ 41,910 | $ 62, 865 | $ 83,820 | $ 104,775 | $ 125,730 | $ 167,640 |
| 8 | $ 46,630 | $ 69, 945 | $ 93,260 | $ 116,575 | $ 139, 890 | $ 186, 520 |
Expected Premium Contributions
| Annual Household Income (%of FPL) | Up to 150% of FPL | 200% FPL | 250% FPL | 300% FPL | 400% FPL & Above |
|---|---|---|---|---|---|
| Expected Premium Contributions | 0% | 2% | 4% | 6% | 8.5% |
For example, an individual living in Texas has an annual income of about $35,000. This income would be between 250 and 300 percent of the federal poverty line. Therefore he expected premium contribution would be between 4% and 6% or $1,400 ($116 per month) and $2,100 ($175 per month)
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Originally from Houston, Texas, Alexandra is currently getting her Master's in Public Health with a health policy certificate at Columbia University. One of her life goals is to own her own art gallery!