Michigan Health Insurance Exchange Cost - Michigan Health Insurance Exchange Subsidy

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Are You Eligible for a Subsidy on the Health Insurance Exchange?

Find your cost and Subsidy Here.

Tables for Determining Share of Health Insurance Cost

Federal Poverty Guidelines (FPL) 2012-Used for 2014 Plans

For Exchange Health Insurance Plans
Members in Family determines income maximum to receive subsidy
% of  FPL     1   2   3   4   5   6
100%     $11,170.00   $15,130.00   $19,090.00   $23,050.00   $27,010.00   $30,970.00
133%     $14,856.00   $20,123.00   $25,390.00   $30,656.00   $35,923.00   $41,190.00
150%     $16,755.00   $22,695.00   $28,635.00   $34,575.00   $40,515.00   $46,455.00
200%     $22,340.00   $30,260.00   $38,180.00   $46,100.00   $54,020.00   $61,940.00
250%     $27,925.00   $37,825.00   $47,725.00   $57,625.00   $67,525.00   $77,425.00
300%     $33,510.00   $45,390.00   $57,270.00   $69,150.00   $81,030.00   $92,910.00
400%     $44,680.00   $60,520.00   $76,360.00   $92,200.00   $108,040.00   $123,880.00
For New Silver Plan on Insurance Exchange (covers 70% of Medical Cost)
When % of FPL is   Coverage increases to  1   2   3   4   5   6
100-150%   94% $11,457.18   $15,518.99   $19,580.80   $23,642.62   $27,704.43   $31,766.24
150%-200%   87% $17,006.33   $23,035.43   $29,064.53   $35,093.63   $41,122.73   $47,151.83
200%-250   73% $18,347.95   $24,852.69   $31,357.42   $37,862.16   $44,366.90   $50,871.63
Your Income Your Share of cost for Exchange Health Insurance Plans
% of FPL % of Your Income You Will Pay for Health Insurance on the Exchange
 To 133%   2%
133% to 150%   3%-4%
150% to 200%   4%-6.3%
200% to 250%   6.3%-8.05%
250% to 300%   8.05%-9.5%
300% to 400%   9.50%
Family of two paying $15,000 for health insurance with an income of $58,700
58,700 requires a cost of 9.5% of income
0.095 x $58,700 = $5,576 your cost for Insurance. 
Government Subsidy = $15,000 (cost of insurance) minus $5,576 = $9,424.00 subsidy
or pay the "No insurance tax penalty" = 0.025 x 58,700 = $1,467.50

 
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