How to Approach ACA if You Won’t Get a Subsidy

One of the ironies of the Affordable Care Act (ACA) is that people who earn good salaries may find it harder to afford health insurance. The ACA has subsidies for people who earn below a certain benchmark (currently less than $50,000 for an individual). Once the income level is crossed, however, the subsidies no longer apply.

Still, there are ways to manage the costs of healthcare even without subsidies:

1) Buy health coverage through an insurance company. If you use an independent agent, you can avoid the exchanges and compare rates and deductibles from many companies. Your agent can help you choose a plan.

2) Juggle your deductibles and co-payments. If you are in good health you may want to select a high-deductible, higher co-payment plan that will come with lower monthly premiums.

3) Look into temporary insurance. Do you expect a life-changing event in the next few months, such as unemployment, marriage to someone with a lower income, a birth or adoption? You may want to buy a more affordable temporary plan, and wait until you qualify for subsidies.

Bernardini & Donovan Insurance can help you find insurance that meets your needs and helps protect your family. To learn more, contact us.