Insurance Poverty Level information Exchange
Our company specializes in providing strategic, demographic and market information designed to enhance our health care clients’ bottom lines. One informational service we provide is the number of households (or families) in your service area according to federal poverty levels. With this information, your company will know the market potential or exchanges and can therefore extrapolate financial and market projections.
Through our proprietary system, developed by our experts, we have this information available at the geographic level you need.
According to the health care reform, government subsidies are designed to help citizens to pay for private insurance and will be sold in state-based insurance marketplaces, called exchanges. These “health exchanges” will be sold online in 2014 giving everyone easy access to compare plans, making it critical to offer competitive coverage.
Premium subsidies, based on a sliding scale, will be available for individuals and families with incomes between 139% and 400% of the poverty level. For example, a family of four earning 150% of the poverty level, or $33,075 a year, will have to pay 4% of its income, or $1,323, on premiums. A family with income of 400% of the poverty level will have to pay 9.5%, or $8,379.
Basic Health Plan: A Medicaid-like insurance plan targets US citizens and some legal immigrants with incomes just above Medicaid levels. States will contract with health plans or providers to create a “managed care plan” meeting basic health benefit requirements.
Affordable Care Act |
| Family Poverty level |
Premium credits
(of income) |
Cost savings subsidies |
Coverage options |
| Up to 139% |
2% |
94% |
Medicaid |
| 139-150% |
3% – 4% |
94% |
Basic Health Plan or exchange |
| 150%-200% |
4% – 6.3% |
87% |
Basic Health Plan or exchange |
| 200%-250% |
6.3% – 8.05% |
73% |
Exchange |
| 250%-300% |
8.05% – 9.5% |
70% |
Exchange |
| 300%-400% |
9.5% |
70% |
Exchange |