2023 INCOME GUIDELINES for the AFFORDABLE CARE ACT – TAX CREDIT
| Household Size | Minimum 100% | 138% | 250% | Maximum 400% |
| 1 | $13,590 | $18,754 | $33,975 | $54,360 |
| 2 | $18,310 | $25,268 | $45,775 | $73,240 |
| 3 | $23,030 | $31,781 | $57,575 | $92,120 |
| 4 | $27,750 | $38,295 | $69,375 | $111,000 |
| 5 | $32,470 | $44,809 | $81,175 | $129,880 |
| 6 | $37,190 | $51,322 | $92,975 | $148,760 |
| 7 | $41,910 | $57,836 | $104,775 | $167,640 |
| 8 | $46,630 | $64,349 | $116,575 | $186,520 |
To calculating your 2023 income, base it on your Adjusted Gross Income, your Net Business Income, or both. For 2022 -2023 you could qualify between 100% to 400% of the federal poverty level. This is based upon your household size, where you are located, and your age. To utilize the chart above, look for your household size in the first column. Then look for your household income level. You should include anyone you claim on your taxes in deciding on your household size. Do not include those who you do not include in your taxes.
If your income is at or below 250% of the federal poverty level, you could also qualify for the Cost Share Reduction. An improvement in the Standard Silver plan (only), that lowers your deductible, the annual out of pocket maximum, and even your co-pays. To see what you qualify for, please utilize the How To Apply instructions on page 2. The federal marketplace website can be accessed at www.healthcare.gov, and this is the only place where you can receive your determination of the Advanced Premium Tax Credit. They can also be reached at (800)318-2596, if you have questions.
If you would like for me to be your agent through this program, you must list me where they ask if someone is helping your with the application process. Please enter my name (Jerrell Mitch) and my NPN Number (6258436), where they ask for the data. It costs nothing for you to have an agent, as the insurance companies charge the same premium amount, whether you have an agent or not. However, I am paid a small monthly commission, if you choose to have me as your agent. Please call me at 541-317-4196 or e-mail if you have any questions.
APPLYING FOR THE AFFORDABLE CARE ACT PREMIUM TAX CREDIT
Go to www.healthcare.gov to access the federal marketplace system. They do change the wording each year, so these instructions may not be the exact same wording. The main thing to be aware of is that the way forward is always the color green. Green box, green words, etc…
- Click on “Get Insurance”
- Tell them which state you reside within. (Do your taxes in)
- Click on “Apply”
- Click on “Create an Account”
- Set your security by choosing a user name, password, and privacy questions /
answers - Click on “Create and Account”
- Log in, and then click on “I Accept”
- Click on “Apply for Coverage”
- Start the application process, by answering their questions
You will need to tell them what your income will be for the coming year. They want your adjusted gross income, or your net business income.
If you would like for me to represent you as your agent, you will need to list my information where they ask if someone is helping you with this application. Please note that the insurance company charges you the same amount, whether you have an agent or not. Having a representative is valuable and free.
Name: Jerrell Mitch
Organization Name: Apex Insurance
NPN Number: 6258436
Continue answering their questions until you get to the “View Results” button. Once you have their Determination of your tax credit amount, please contact me. We can then go through your plan choice options, to finish up the process.
Apex Insurance 