Families who pay more than the 9.12% of their household income for employer-sponsored family health insurance could be eligible for a premium tax credit (PTC) following adoption of a new IRS rule. Employees provided an affordable offer of employer-sponsored, self-only coverage would continue to be ineligible for a PTC.

PTC eligibility is linked to household income. Generally, subsidies are available for those whose household income is at 400% or less of the federal poverty level (FPL), which is adjusted annually by the Department of Health and Human Services (HHS).

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The ACA requires health plans provide dependent coverage up to age 26. We can assist dependents turning 26 to find the best plan to fit their needs.

Premium price is important to young adults with a limited budget. But selecting an insurance plan strictly on price could result in disappointing and unexpected consequences if the terms of the plan aren’t understood. Our enrollment specialists will always search for the best-price coverage option, while highlighting benefits and limitations.

Employees who missed open enrollment, or who are in a waiting period, can secure short-term coverage. Plans are generally affordable and provide important protection for unexpected injuries and illness.

Short-term coverage can be in force for up to 90 days, with renewal options. Short-term plans require medical underwriting and some may cover pre-existing conditions or prescription drugs. For many, this coverage option is an important way to bridge the gap until more permanent health insurance can be put in place.

COBRA-eligible individuals can often secure individual coverage that is less expensive than the group COBRA rate.

Why pay more? COBRA law allows your COBRA administrator to charge 102% of the premium you pay for your employer-sponsored coverage. You can avoid the 2% surcharge by purchasing an individual or family plan either on or off the Health Insurance Marketplace. As an approved web broker for healthcare.gov, our Life Transitions team can help you determine if you’re eligible to receive a subsidy or premium tax credit to lower your premiums and out-of-pocket costs.