Post sponsored by Xpress Health & Life, Nixa MO

ACA Insurance Explained

1. What is ACA Insurance?

2. How Can I purchase ACA Insurance?

3. Income & Payback Requirements

1. What is ACA Insurance?

• ACA Insurance is part of the Affordable Care Act
  • In some instances, you can receive a tax credit to help you pay for insurance 
• You cannot be denied ACA insurance due to a preexisting condition
  • You also cannot be charged more for having a preexisting condition
• Qualifications are based on income and the federal poverty level (FPL)

2. How Can I purchase ACA Insurance?

There are three ways to purchase health insurance:

1. Your employer
2. Health Insurance Companies
3. Health Insurance Marketplace (HealthCare.Gov)

Health Insurance Marketplace Enrollment dates:

• The 2020 Open Enrollment period goes from Nov. 1st, 2019 – Dec. 15th, 2019
• If you don’t act by Dec. 15th, you can’t get 2020 coverage unless you qualify for a special enrollment period
• Plans sold during Open Enrollment start Jan. 1st, 2020
• Special Enrollment Period: A time outside the Open Enrollment Period when you can sign up for insurance from the healthcare marketplace (Qualifications: certain life events such as change in income, changing place of living, released from incarceration, losing health coverage, moving, getting married, having a baby, or adopting a child)

3. Income & Payback Requirements

Total Individual & Family Income

Amount You Will Pay for Insurance

Income (based on FPL)	Individual Income	Individual Payback	Household Income (Family of 4)	Household Payback
<200%	Under $24,280	Capped at $300	Under $50,200	Capped at $600
200% to 300%	$24,281 – $36,420	Capped at $775	$50,201 – $75,300	Capped at $1,550
300% to 400%	$36,421 – $48,560	Capped at $1,300	$75,301 – $100,400	Capped at $2,600
>400%	$48,561 & up	Full amount received	$100,401 & up	Full amount received

Payback Requirements if Estimated Income is Higher Than Expected

As always, if you have any questions contact Jenkins CPA at 417-725-3924 or stop by our office at 204 Village Center St, Nixa MO