How did you $247? The plan states it is capped at 8.5 percent of income. At 8.5 it would be $333 pre month not $247. And that don’t include copays, deductibles, vision, mental health, or dental. Plus the 8.5 percent cap is a goal and not mandatory. So it is possible that some people will have to pay more.
it’s at 9.5 now and it’s based off your income and how much of a multiple your income is of the fpl system.
the lower the multiple the lower the percentage. 9.5% is the highest it’ll be, the vast majority of payments are less than 9.5%.
this is the fundamental basis of the Aca system.
There are no copays.
And it’s up to each individual person/family to decide if they want to add dental, vision or mental health. Not everyone will use those services so your not forced to pay for them. For some reason Bernie fans want to force ppl to have that coverage. this is the fundamental divide between Bernie and Biden voters.
Ya'll want to force ppl to pay for something and Biden wants people to give people choices.
Understanding the Affordable Care Act (ACA) Subsidies
Calculating Your Subsidies
The Federal Poverty Level
Let's first begin with an explanation of the FPL and how it impacts your insurance costs. Each year the federal government benchmarks the federal poverty level at a certain income. Eligibility for some government services and benefits depends on how much your income is above or below this number. In 2013-2014 this number for a single individual will be set at $11,490. If you are married, or have children, this number is adjusted accordingly (Table 1). For 2014 - 2015 the single individual will be set at $11,670
Household Size
Example Nevada Chart
Table 1: Federal Poverty Level by Household Size 2013 (additional family members past 4, increase the federal poverty level number by an additional $4,020 each), Additional family members for 2014 will increase the number by an additional 4,060
How the FPL impacts your insurance spending
To help lower and some middle income families pay for health insurance, the
Affordable Care Act limits the amount of money the family would have to spend on premiums for a Silver Plan (we will get to this later) based upon a percentage of income. The law does this by capping the amount that each family will pay themselves depending on where they fall in relation to the FPL (Chart 2). Higher income households will have a higher cap as a percentage of income.
To illustrate, for a single individual with an income of $28,725, the applicable FPL would be $11,490 and their income would be 250% of that amount. Under the law this would cap their yearly premium for that Silver Plan at 8.04 of their annual income $2,313 or about $193 monthly.
For a family of 4 earning $47,100 they would have an income of 200% FPL ($23,550) and under the law would have premiums capped at 6.3% of their annual income: $2967.30 or $246.27 monthly.
I know youre saying 8.5% isnt guaranteed, but 9.5% already is. The 8.5% is what Biden's goals going to be and how he will "improvement" on the ACA.