I have been receiving a lot of questions about who qualifies for a premium subsidy based upon their household income. Fortunately Covered California provides this Federal Poverty Level Chart to explain just that.
The best way to explain how to read the chart is through an example:
A household size of four with two adults and two children below the age of 18 will qualify for Medi-Cal if the household earns under $33,949 per year.
If the household income is between $33,949 and $65,436, then the two parents will likely qualify for a premium subsidized Covered California Plan, while the two children will qualify for Medi-Cal.
If the household income is between $65,437 and $97,200 then it is likely that the entire family will qualify for a subsidized Covered California health plan.
And finally if the household's income is greater than $97,200, the family will likely not qualify for any subsidy. They can purchase an unsubsidized Covered California plan or a plan directly through a regular health insurance company.
Covered California will continue to use this 2017 chart for eligibility determination until it is updated in March-April 2018.
If you have questions about what counts as income, how savings factor into the calculations or just need help with the application, please reach out to me.
Pfeifer Insurance Brokers