Federal Poverty Guidelines for 2020 Insurance Premium Subsidies
Under the Affordable Care Act the federal government is granted the authority to offer health insurance premium subsidies (also referred to as advanceable tax credits) on a sliding scale to help individuals and families afford health insurance.
Insurance premium subsidies are only available for plans purchased on the Federal Health Insurance Marketplace, or one of the state-run health insurance exchanges established under the Affordable Care Act.
2020 Federal Health Insurance Premium Subsidies are available to individuals and families:
- Who enrolled or will enroll during the Annual Open Enrollment Period
- Who qualify to enroll in a health insurance plan during a Special Enrollment Period
Federal Insurance Premium Subsidies are based on 2019 Federal Poverty Guidelines (FPGs)
In order to qualify for 2020 Federal Health Insurance Premium Subsidies, you must:
- Be a legal U.S. resident;
- Not be eligible for Medicare or Medicaid;
- Purchase a health insurance plan on a state-run exchange of the Federal Health Insurance Marketplace AND have an annual household income between 100% and 400% of the Federal Poverty Level, as established by the 2019 Federal Poverty Guidelines.
The 2019 Federal Poverty Guidelines, which determine 2020 insurance premium subsidies, are higher than the 2018 FPGs, which were used to establish insurance premium subsidies in 2019. That means, if you made slightly too much to qualify for subsidy assistance in 2019, you may now be eligible to qualify for subsidies in 2020.