Can I Get ACA Health Insurance If I Make Under $12k?

Understanding the ACA Income Threshold for Health Insurance

The Affordable Care Act (ACA) establishes an income threshold to determine eligibility for premium tax credits, which help reduce the cost of health insurance. In general, individuals who earn less than the threshold amount do not qualify for these subsidies. However, they may still be able to purchase ACA health insurance plans without subsidies.

The Income Threshold for ACA Premium Tax Credits

For 2024, the ACA income threshold for premium tax credits is $13,890 for single individuals and $27,750 for families of four. If you earn below these amounts, you will not qualify for premium tax credits.

Can You Get ACA Health Insurance Without Premium Tax Credits?

Yes, you can still purchase ACA health insurance plans without premium tax credits. However, you will need to pay the full cost of the premiums, which can be significantly higher than the subsidized plans. Insurance companies typically offer a range of plans with varying levels of coverage and premium costs.

Medicaid Eligibility

Medicaid is a government healthcare program that provides health coverage to low-income individuals and families. Eligibility for Medicaid varies by state, and in some states, such as Texas, Medicaid is not available to single adults without dependents.

Options for Low-Income Individuals

If you do not qualify for premium tax credits or Medicaid, there are still options for obtaining health insurance at a reasonable cost:

Short-term health insurance: These plans offer limited coverage for a short period of time (typically less than 12 months). They are less expensive than ACA plans but also provide less comprehensive coverage.
Catastrophic health insurance: These plans are designed for young adults and those with low incomes. They offer very limited coverage but have significantly lower premiums than other ACA plans.
Community health centers: These centers provide affordable healthcare services to uninsured and underinsured individuals. They may also offer sliding-scale payment options based on income.

Seeking Professional Help

If you are unsure about your eligibility for health insurance or need assistance finding the right plan, it is advisable to seek help from a licensed health insurance agent. They can provide personalized advice and help you enroll in the best plan for your needs and budget.