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Beginning in 2015, the Exchange was required to be self-sustaining and has been appropriated funds by the state legislature. The Exchange sustainability is tied to three funding sources established in statute: (1) the existing 2 percent tax on health insurance premiums sold through Washington Healthplanfinder; (2) reimbursement for activities ...
The subsidies for insurance premiums are given to individuals who buy a plan from an exchange and have a household income between 133% and 400% of the poverty line. [38] [44] [45] [46] Section 1401(36B) of PPACA explains that each subsidy will be provided as an advanceable, refundable tax credit [47] and gives a formula for its calculation: [48]
Income % of federal poverty level Premium cap as a share of income Income a Maximum b annual net premium after subsidy (second-lowest-cost silver plan) Maximum out-of-pocket 133% 3.11% of income $33,383 $1,038 $5,200 150% 4.15% of income $37,650 $1,562 $5,200 200% 6.54% of income $50,200 $3,283 $5,200 250% 8.36% of income $62,750 $5,246 $12,600 ...
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The average premium for the benchmark Obamacare plan will decline in 2019 compared to the year before, with premiums falling in 18 states.
2015 Federal Poverty Level is now 133% to 401%; Everyone must obtain health insurance that meets the Minimal Essential Coverage (MEC) that is defined by the department of Human Services (DHS) Affordable is based on percentage of 9.5% annual income of an individual; There is no out of pocket cost of Preventive care even on grandfather plan
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