The American Rescue Plan increased the premium tax credits for people who purchase individual, marketplace coverage and removed the requirement that your annual household income be below 400% of the federal poverty level through the end of 2025. The calculator tool below will help you determine if you and your family qualify for financial assistance.
More Information about the Premium Tax Credits
The “Marketplace” is another term for Healthcare.gov, the federal exchange that was created by the Affordable Care Act. Our recommendation is that you purchase Marketplace coverage IF you qualify for a premium tax credit. If not, you should purchase coverage “off exchange,” or outside the Marketplace, or you should consider another coverage option.
Thanks to the American Rescue Plan, more people qualify for a premium tax credit than ever before. Not only did the new law increase the tax credits at all income levels, it removed the requirement that your annual household income be below 400% of the federal poverty level. Below are some examples from the Dallas-Fort Worth area showing they tax credits that people of different ages, income levels, and household sizes could expect to receive.
People earning less than 400% of FPL
| Household Size | Age(s) | Annual Income | Income as % of FPL | Premium Tax Credit |
| 1 | 25 | $40,000 | 313% | $116/mo |
| 1 | 60 | $40,000 | 313% | $674/mo |
| 2 | 25, 23 | $60,000 | 348% | $294/mo |
| 2 | 55, 53 | $60,000 | 348% | $1,033/mo |
| 4 | 29, 28, 5, 2 | $80,000 | 305% | $810/mo |
| 4 | 49, 48, 19, 15 | $80,000 | 305% | $1,260/mo |
People earning more than 400% of FPL (no tax credit was available before ARPA)
| Household Size | Age(s) | Annual Income | Income as % of FPL | Premium Tax Credit |
| 1 | 25 | $75,000 | 588% | $0 |
| 1 | 60 | $75,000 | 588% | $354 |
| 2 | 25, 23 | $90,000 | 522% | $16 |
| 2 | 55, 53 | $90,000 | 522% | $756 |
| 4 | 29, 28, 5, 2 | $120,000 | 458% | $369 |
| 4 | 49, 48, 19, 15 | $120,000 | 458% | $819 |
One rule that remains is that those who have access to other affordable minimum essential coverage, like an employer-sponsored health plan or a government program, do not qualify for a premium tax credit.
The enhanced tax credits will remain in place at least through the end of 2025. If it looks like you qualify for a tax credit after entering your information below, please contact JME for assistance. We’ll be happy to help get you set up with an individual policy and any financial assistance you qualify for.