A health insurance subsidy provides tax credits to qualifying individuals to make monthly health insurance premiums more affordable. If your annual income is too high to qualify for a subsidy, you can shop for more affordable alternatives, such as short-term plans, to fulfill your health insurance needs until you can purchase more comprehensive coverage.
Who qualifies for subsidies?
Those who qualify for government subsidies – in the form of premium tax credits or extra savings – typically have a household income between 100% and 400% of the federal poverty line.
