Health subsidies: How much do you qualify for?

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Associated Press

Posted on April 2, 2013 at 1:02 PM

Updated Tuesday, Apr 2 at 3:01 PM

Starting next year, President Barack Obama's new health care law will offer subsidies to help people buy private health insurance on state-based exchanges, if they don't already get coverage through their employers. The premiums paid by taxpayers will be tied to their income, with the government subsidies making up any shortfall.

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Single adult

Age: 30

Income: $30,000

Annual cost of health insurance: $3,440

Government subsidy: $932

Annual premium paid by taxpayer: $2,509

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Family of four

Age of policyholder: 30

Family income: $30,000

Annual cost of health insurance: Eligible for Medicaid, the government-run health insurance program for the poor.

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Family of four

Age of policyholder: 40

Family income: $50,000

Annual cost of health insurance: $12,130

Government subsidy: $8,745

Annual premium paid by taxpayer: $3,385

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Family of four

Age of policyholder: 50

Family income: $75,000

Annual cost of health insurance: $16,858

Government subsidy: $9,733

Annual premium paid by taxpayer: $7,125

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Family of four

Age of policyholder: 60

Family income: $90,000

Annual cost of health insurance: $24,042

Government subsidy: $15,492

Annual premium paid by taxpayer: $8,550

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Note: Premiums are estimates of average premiums for 2016, by the Congressional Budget Office.

Source: The Henry J. Kaiser Family Foundation.

Online: http://healthreform.kff.org/subsidycalculator.aspx

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