ObamaCare and Tax Credits: Do You Qualify?

When ObamaCare comes into full effect, the affect on the family budget can be significant. Whether you buy health insurance or pay the tax penalty, the fiscal impact on your income can make for some difficult choices. Knowing you qualify for a tax credit can lessen the impact on your finances and can make affording health care a lot more reasonable.

Here are some guidelines to keep in mind:

– If your employer doesn’t offer health insurance, you may qualify.

– If you aren’t on Medicare, you may qualify.

– If you make under specific amounts based on family size, you may qualify. Here are the earning limitations:

  • 1 person – $45,960
  • 2 people – $62,040
  • 3 people – $78,120
  • 4 people – $94,200
  • 5 people – $110,280
  • 6 people – $126,360

If you meet all three of the above, you more than likely do qualify for tax credits to assist you with health insurance expenses. To make sure of your status, give your local insurance company a call. If you’re in the Sterling, CO area, the best source of information and for great insurance plans is Pilkington Financial Services. They’ll be more than happy to help you understand where you stand in relation to ObamaCare and what you’ll need to make sure you’re ready. Connect with them today and rest assured you do have the coverage you need!