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How much will I pay for health insurance in 2014?

By on September 18th, 2013
Filed: Advice, Health Insurance, Health Reform

How do Obamacare subsidies work?

(See also, “Where can I buy a 2013 plan and keep it until the end of 2014?” and the free eBook Five Steps to Understanding Obamacare)

It’s called the Patient Protection and Affordable Care Act – but how affordable will health insurance be in 2014 when the last provisions of the law go into effect?

There are two ways to look at the answer.

First, you can look at the monthly premiums that health insurance companies will be charging for 2014 health insurance plans. Some of this data is available now, but not much.

The other way to look at it is to ask how much you personally will have to pay for coverage. Because if you qualify for a subsidy, your cost could be quite different than the full price.

Recently on Yahoo Answers we had a chance to address this issue. The ehealth reply was voted Best Answer:

In order to qualify for a federal subsidy you must earn between 133% and 400% of the Federal Poverty Level (that’s up to about $45,000 for a single person or $92,000 for a family of four). The amount of the subsidy will vary depending on where you fall in that income range and on the cost of coverage in your area.

In order to use that subsidy, you will need to enroll in a plan offered through a state exchange, or through another site designated by the exchange authority in your state. Open enrollment for 2014 health insurance plans will begin on October 1, 2013 and end after March 31, 2014. If you’re looking for some more information on open enrollment, check out our recent blog post.

Another thing you can do if you wonder about your subsidy eligible in 2014: use our new subsidy calculator. It will give you an estimate of what your subsidy may look like next year.

Image by Flickr user DorkyMum

About Douglas Dalrymple

Doug Dalrymple is a member of the communications team at eHealth, Inc. and has worked in the health insurance and technology industries for fifteen years. He works on communications strategy, content creation and management, project management, and corporate messaging.

3 Comments Add Your Comment

miguel on Wednesday, October 16 @ 4:35 pm

i am insured now but if i get layoff in march of next year what i have to do to get medical insuranse

Nate Purpura on Thursday, October 17 @ 9:52 am

Hi Miquel – under the Affordable Care Act, a job loss will be considered a qualifying event, and you will be able to stay on COBRA or buy insurance in the individual market here at eHealthInsurance.com

Marshall on Sunday, October 20 @ 10:34 pm

Which would be cheaper blue cross blue sheild or the subsidiary insurance?

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