By law, all people in Wisconsin should have health insurance or they have to pay a fee. Fortunately, the Affordable Care Act (ACA) has several ways to help low income families buy health insurance. For example, a family of four may be able to get help with their health care costs with –
Cost Share Reductions – Depending on your income, you may qualify for cost share reduction (CSR) plans. These plans help reduce your out-of-pocket costs, such as copays, deductibles and coinsurance. Essentially, if you qualify, your family may pay the price of a Silver plan while getting the lower out-of-pocket costs of a Gold or Platinum plan. This is one way that the ACA helps provide health insurance assistance for low income families.
Advanced Premium Tax Credits – Your family may also be able to get help paying for your monthly premiums with an Advance Premium Tax Credit (APTC). This is a tax credit you get before you file your tax return that may help you pay for your insurance premiums. Whether you qualify depends on your income and family size. This is another way the ACA helps pay for health insurance for low income families.
HealthConnect – Dane County families who make 100 to 133 percent of the Federal Poverty Level may qualify for help with their health insurance costs from HealthConnect through United Way of Dane County.
BadgerCare Plus – In Wisconsin, low income families may be able to get free or low-cost health insurance coverage through BadgerCare Plus (Medicaid). To be eligible for BadgerCare Plus, you need to meet these criteria: have children under age 19 living with you; earn an income level within the guideline limits; and not be covered by any other health insurance.
In order to take advantage of the APTC and the CSR health insurance assistance for low income families, you need to purchase a plan through the Health Insurance Marketplace. To find out if you may qualify and apply directly on the Marketplace, use Unity’s Get a Quote tool. Unity customer service representatives can help you review plans offered by Unity on the Health Insurance Marketplace and explain the terms and options before you purchase your health insurance plan.
Contact Unity Health today for helpful, straightforward information about the right kind of health insurance plan for your unique situation.