Get an instant quote for you and your family for Marketplace health insurance. Most families qualify for lower premiums and lower deductible plans. Enroll from the comfort of your home. If you have questions, one of our local Utah health insurance agent can answer your questions with no obligations.
Get an instant quote on Marketplace health insurance
Most families qualify for subsidies, or help paying for your monthly premium, with a Marketplace plan. You can get an instant quote for you and your family for Marketplace health insurance. You'll be able to see if you qualify for subsidies and how much you'll qualify for. You'll be able to enroll in a health insurance plan and if you have any questions, feel free to reach out to one of our local agents for help. Our help is always free.
When getting your instant quote for a Marketplace plan, be sure to include the right info. Subsidies are based on your household size, zip code and annual household income. Household size refers to your taxable household. So include every family member you include on your yearly tax return whether they need insurance or not. Your yearly income is your adjusted gross income or AGI. Some incomes are not included. If you have questions about your income, please reach out to us so we can research that for you.
Who to include & what income to estimate
Some tips on who to include in your household and what income to count for your Marketplace health insurance plan. Any questions, contact us today. Our help is always free with no obligation.
Subsidies refers to the amount of help you get each month for your Marketplace health insurance plan. The amount of subsidies you get are based off your household size, zip code and income. We'll go over the basics here, but if you have questions, please reach out. Our local agents at Utah Avenue Insurance have helped families with Marketplace plans since these plans started being offered. We are your local Utah experts for Marketplace plans.
Household Size
Include everyone in your household who you also claim on your taxes. For some families, this may mean changing your household each year. Include family members whether they need insurance or not.
Example 1: A single mom who has 2 kids that she claims on her taxes, but the children both have insurance through Medicaid or CHIP. She would have a household size of 3 people.
Eample 2: Parents with one 22 year old child that is in college. Claiming this child in your household depends on if the child has a job that pays more than $10k per year. If the child does not work or makes less than $10k per year, then claiming this child as a dependent and inlcuding them in your household and health insurance plan would be the best and most affordable option for everyone. If the child works, it may be more affordable for the child to file their taxes on their own and get their own health insurance plan.
Example 3: Husband and wife looking to retire. Wife is 63 years old and husband is 65 years old. This would be a household size of 2 people with only the wife on the health insurance plan. Husband most likely will qualify for Medicare. We can help you know your options for Medicare including Medicare Supplements, prescription drug plans and Medicare Advantage plans.
Income or Adjusted Gross Income
As a general rule, your estimated income is your adjusted gross income, or AGI, for the current year we are in. This means that if you are a business owner, it is after your expences and depreciation. You'll also deduct any contributions to an HSA and IRA and any child support.
Example 1: Single mom with 2 children that works a part time job and recieves child support. She would only count the income from her part time job. Child support does not count towards your income estimate.
Example 2: Young couple both working part time jobs while going to college. They would count both of their incomes and deduct any contributions to HSA and IRAs.
Example 3: Family with 3 kids. 2 live at home, oldest child is in college. Child does not work and family owns their own business. They would estimate what they expect their AGI to be for the current year. Consider any big purchases that you will be making this year and consult a tax professional on your deductions. Most likely what you are taking home is much larger than your AGI is.
We hope this helps you calculate your income closer to get an acurate health insurance quote. You want to be as close to your correct income as possible to avoid any subsidy repayment. Guessing too high means you may be paying too much for health insurance. Guessing too low may mean you pay some of those subsidies back at tax time. If you'd like to know what that repayment would be, contact one of our local agents today.
