Calculate Your Insurance Costs Under Obamacare

An easy way to figure out what you will pay under the new health care law

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Less than a week before new state-based insurance marketplaces launch in every state, the federal government has released a trove of data on  the cost of insurance under the Affordable Care Act. Staffers at the non-partisan Kaiser Family Foundation have been working around the clock with this and other data to produce a handy tool that calculates how much individuals and families without job-based insurance will pay for coverage in 2014. Simply by entering your zip code, annual income and age, you can find the cheapest plan available during the six-month open enrollment period that begins Oct. 1, as well as what federal subsidies you would qualify for under the Affordable Care Act. (Massachusetts, Kentucky, New York and Vermont either calculate premiums in unique ways or have not yet released complete information on 2014 insurance costs, so results for these states are less specific than others.)

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5 comments
jldnvjld
jldnvjld

@AngelHarris: The calculator is 'right'; it's just a confusing situation.  When ACA was written, the intent was for everybody at 138% and below of the poverty level to be eligible for Medicaid.  These people weren't (and aren't) simultaneously eligible for subsidies for private insurance on the exchanges, because if they were to get Medicaid, they wouldn't need to buy private insurance.  However, some states have elected not to expand Medicaid, which leaves a hole in coverage: people who weren't eligible for Medicaid but make 138% or less of the poverty level aren't eligible for anything.  The calculator shows you the cost of insurance on the exchange without subsidies for these people, since there are no subsidies available.  Of course you wouldn't buy that if that were your income level.  You also won't be fined for not carrying insurance. In other words, the situation for people in the coverage hole is the same as before ACA:  no insurance.

AngelHarris
AngelHarris

I'm sorry but this calculator is very WRONG!!! It calculates a person's annual premiums based on where they fall on the poverty level (percentage-wise). Unfortunately, it calculates this percentage wrongly. If you put your annual income in (say, $8520 per year for a family of 2 - 100% of the poverty level is $15,510), this calculator claims your family is only at 55% of the poverty level & has to pay 43% of their annual income for Bronze coverage or 70% of their income for Silver coverage & are not eligible for Medicaid, tax subsidies or exchanges because their income is not far enough below the poverty level!!! I can put an income of $0 (which it states is 0% of the poverty level) in this thing & still have to pay $3038 per year in premiums for Bronze coverage & would get $0 in tax subsidies!!!!!   FIX THIS CALCULATOR!!!!!!!!

chasfmill
chasfmill

@AngelHarris I put $0 in for my income (in Texas), and the premium I have to pay comes out $12,500 a year!