What Will Health Insurance Cost Me?

subsidycalculator_blue1.pngOn November 5, 2013, the Kaiser Family Foundation published State-by-State Estimates of the Number of People Eligible for Premium Tax Credits Under the Affordable Care ActThe study finds that Wisconsin has approximately 301,000 residents who are likely to be eligible for tax credits to help pay for the premiums. The study also estimates that the potential market size is 482,000. 

The website also offers a simple calculator that can provide people an estimate of their premiums and tax credits to help pay for the insurance, based on their state, zip code, and income. For example, a 40 year old adult who has no children, who lives in Milwaukee, and earns $25,000 a year would be able to buy a "silver" plan for $3781 per year. But that's not what the plan will cost her. She will be eligible for tax credits totaling $2052. So her final cost for that tier of coverage will be $1729 or about $150 a month.

If she opts for a "bronze" tier plan, her out of pocket cost for health insurance will be about $873 per year, or just under $73 per month.

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