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The Basics of Subsidies
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How to Save on Your Monthly Health Insurance Premiums
When you apply for health coverage on Your Health Idaho, you may be eligible for a premium tax credit to lower your monthly costs or for cost-sharing reductions to lower your out-of-pocket costs such as co-pays.
Am I eligible for Lower Costs?
This will depend on your household size and income. The best way to find out is to visit the Your Health Idaho tax credit estimator to see what you may qualify for. In general if your household income falls within the following ranges listed on the chart below, you may be eligible.
What if my income is less than the minimum amount stated in the chart?
You may notice that the minimum income for a tax subsidy is $11,670 for an individual.
One common question that may people ask is what happens if an individual make less than $11,670. In most states who have expanded Medicaid, these people would qualify for Medicaid. Idaho however, is not a state that chose to expand Medicaid and therefore this program would not be available to you at this time.
What is Medicaid?
A state-administered health insurance program for low-income families and children, pregnant women, the elderly, people with disabilities, and in some states, other adults. The federal government provides a portion of the funding for Medicaid and sets guidelines for the program. States also have choices in how they design their program. Idaho’s Medicaid program is operated by the Idaho Department of Health and Welfare.
What is means to me that Idaho did not expand Medicaid?
If your household income falls below the minimum needed for a subsidy, then unfortunately you will not receive a tax subsidy to assist with your premiums and you will be obligated to pay the full premium of your health plan.