HEALTH PLAN SAVINGS CALCULATOR
ARE YOU ELIGIBLE FOR FINANCIAL ASSISTANCE? FIND OUT HERE.
Starting in 2014, you may be eligible for help paying for health insurance if you buy a plan through Cover Oregon. This financial aid could come in monthly payments or a lump sum when you file your taxes. You may also qualify for help paying “out-of-pocket” expenses such as co-pays and deductibles.
Use our Plan Savings Calculator to find out if you might qualify, and if so, an estimate of the assistance you may expect. (Eligibility is based on your household income.) Please keep in mind these numbers are a preliminary estimate. When Cover Oregon opens in October 2013, you will be able to complete the application process and find out exactly what you qualify for and how much your premium payment will be.
Three easy steps to find your savings:
About the Calculation
- Insurance premium amounts are illustrative examples based on cost estimates developed by the Congressional Budget Office. The calculator assumes a 40-year-old adult would have an average monthly premium of $375. Premiums would fluctuate based on the level of plan a person chooses.
- Premium tax credits and assistance with out-of-pocket costs are on a sliding scale according to a person’s income.
- If income is under 138 percent of the Federal Poverty Level (FPL), the person would be eligible to enroll in a newly expanded Medicaid program.
- Premium tax credits are generally not available for people purchasing coverage through an employer; it must be through their enrollment in an individual health plan offered on the Exchange. There will be some exceptions if the employer coverage is deemed "unaffordable."
- Premium tax credits are not available to those eligible for Medicare.
- Any federal tax credits/subsidies would go straight to the insurance company. The insurer then would discount the policy to the consumer.