Georgia Health Insurance and Florida Health Insurance Under 65

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We provide Georgia health insurance to in South Georgia and North Florida to individuals under 65. We have major carriers including Anthem Blue Cross of Georgia, Ambetter, Oscar, and others.

Get your Health Insurance Quote Here: Health Insurance Quote

Or reach out to us at 229 740 6262 or email chris@yourlifeagency.com

Here is how health insurance in Georgia and Florida for those under 65 works. There is an EXCHANGE (a digital platform) that you can access directly or through an authorized/certified broker like myself (use the link above to self-search otherwise most have me assist them). On this EXCHANGE are listed the carriers that provide health insurance in your zip code. It will list their monthly payment and then tell you if you qualify for a SUBSIDY or assistance of some kind based on your income (most qualify for something, taking money off their monthly payment). You or a broker like myself then enroll you in the plan. There is an open enrollment each years starting November 1, but certain life circumstances trigger a special period for you sign up outside Open Enrollment.

What are ACA tax credit subsidies?

ACA subsidies are tax credits available to many people
whose net income is between 100% and 400% of the Federal Poverty Level (FPL).
ACA subsidies go toward paying health insurance premiums for those who might
otherwise struggle to afford health insurance.

In general, ACA-subsidized people are also shielded from rising premiums as ACA subsidies usually increase (or decrease) in proportion to the premiums. This helps keep health insurance affordable for people with lower- and middle-class incomes.

In 2020, 87% of the 10.7 million people who purchased health insurance on the Marketplace received ACA premium subsidies, the Centers for Medicare & Medicaid (CMS) reported.

Obamacare Subsidy Eligibility

Obamacare offers subsidies, also known as tax credits, that work on a sliding scale. They limit the amount you pay in monthly premiums to a percentage of your annual income. Most people are eligible for subsidies when they earn 100% – 400% of the FPL.

Be aware, however, that the American Rescue Plan Act (ARPA), signed into law on March 11, 2021, brings further, temporary relief to many Americans who struggle to find affordable health insurance during the economic and social trauma of the COVID 19 pandemic. For a two-year period—2021 and 2022— many Americans can take advantage of several provisions of the ARPA designed to make health insurance coverage even more affordable than the original Obamacare subsidies. For example under the ARPA:

No citizen or legally present noncitizen who doesn’t have access to other affordable insurance (e.g., from an employer, Medicaid, or Medicare) will pay more than 8.5% of income for a Marketplace Silver plan.

Most people who receive at least one week of unemployment compensation at any time in 2021 will be able to obtain a Silver plan with $0 premiums and cost-share reductions.
Individuals who earn 500% of the FPL and do not have access to other affordable health insurance, may take advantage of certain cost-sharing reductions of Marketplace plans available to people with lower incomes.

**If your income is below 138% of the federal poverty level (FPL) ($18,754) you do not qualify for subsidy in Georgia. You have to make at least that much to get any subsidy assistance.

If your state has expanded Medicaid coverage (Not in Georgia), you may qualify for Medicaid if your income is less than $18,754 (Not in GA). Medicaid is the national healthcare program for low-income individuals and families.

To qualify for Obamacare subsidies you must meet the following criteria:

You are currently living in the United States
You are a US citizen or legal resident
You are not currently incarcerated
Your income is no more than 400% (or 500% in 2021 and 2022) of the FPL
According to the Federal Register, the 2021 FPL for an individual is $12, 8800. The FPL varies based on the number of members in your household. Alaska and Hawaii have different poverty levels. The Obamacare household income chart changes annually as poverty rates are adjusted every year for inflation.

For 2022, the federal poverty guidelines are as follows:

Use the 2022 federal poverty guidelines when determining whether you can reduce your premium costs through the Obamacare tax credit if you purchase Marketplace insurance for 2023 coverage.

How Obamacare subsidies work

There are two kinds of ACA
subsidies.

The more common kind is called “Advanced Premium Credits”, which can help pay ACA health insurance premiums purchased on the Marketplace through the year. If you qualify based on your projected income for the current year, you can either:

Take the tax credit throughout the year to be paid directly to your health insurer to offset the premium of your coverage, or
Pay the premium in full each month and receive your tax credit when you file your income tax return.
If you take the advance tax credit
each month (option #1 above) and you underestimate your actual household
income, you will owe some of this advanced money back at the end of the year.
On the other hand, if you overestimate your income, you will receive an
adjusted tax credit refund when you file your income tax return. To avoid this
issue, report changes to your income by updating your Marketplace application
online or contacting the Marketplace call center.

It’s important to know tax-credit subsidies apply to ACA plans you can purchase on the Marketplace. They are not available to ACA-compliant plans offered outside the Marketplace, catastrophic coverage plans, short-term health insurance, standalone prescription drug plans, or insurance supplements for such care as dental, vision, and critical illness. These alternative insurance plans may cost less, but provide fewer benefits than Marketplace plans offer, generally.

The second kind of ACA subsidy is called a “Cost-Sharing Reduction (CSR) Subsidy”. If you are eligible, CSR subsidies can reduce your out-of-pocket costs for covered services by paying a portion of your deductible, copayment, or coinsurance.

Things to know about Obamacare subsidies
Anyone who is curious about their Obamacare subsidy eligibility need to know the following facts:

Your eligibility for subsidies is based on your income in the year in which you are covered by your health plan – not on your income as reported on last year’s tax return. This means that you must estimate your income when applying for subsidies.
If you earn more than expected during the year, you may be required to pay back some or all the subsidy dollars that were applied on your behalf to your monthly health insurance premiums.
If you earn less than expected during the year, you may be due additional subsidy assistance, which may be applied when you file your taxes for the year.

Applying for Obamacare subsidies
You can apply for Obamacare subsidies through the government-run health insurance Marketplace in your state or through qualifying licensed agents like Chris Connell and Your Life Agency, and private online Marketplaces that cooperate with the government marketplace.

Reach out to me today for assistance or do a quick search for yourself using this link:
Health Insurance Quote