Subsidies will be reducing the overall price that many lower income Americans need to pay in regards to their newly mandatory health insurance policies. While health insurance policies are set to become more affordable as of January 1, 2014, many individuals still feel as though the monthly cost could potentially be out of reach. As a consequence, many individuals may wish to pursue the subsidies available to them.
When the Affordable Care Act is implemented, all individuals will be required to carry health insurance. This includes those that do not have employer-provided health insurance. Today, the costs of individual health insurance can be quite high, but in the future it is expected that insurance policies will become more affordable.
Those that have an income of less than four times the poverty level will be able to qualify for health insurance subsidies from the federal government so that they can afford basic health insurance. In addition to this, the standards of health insurance will be raised so that they are more beneficial to policy holders.
For more information about the individual subsidies available for individual health insurance contact Bernardini & Donovan Insurance Services, experts in the Affordable Care Act and individual health insurance needs.