Premium Tax Credit

DO I QUALIFY FOR A SUBSIDY OR TAX CREDIT?

People with incomes that fall between 138% and 400% of the national federal poverty level (FPL) MAY be eligible for the Advanceable Premium Tax Credit (also referred to as "subsidies") to help offset the cost of your monthly premium.  

Determining whether you qualify can be a little confusing so we've created the chart below to guide you. Use the columns showing Maximum Monthly Premium to determine the maximum out-of-pocket coverage costs you should pay at your income level. Coverage costs above your maximum may be covered by Premium Tax Credits.

One important note is that if your income is under 300% of FPL your children under 19 will automatically to into CHIP program (this is mandatory, not optional). There is no subsidy for private insurance and there is no cost for the kids.

 

Individuals between 138% FPL and 300% FPL calculate their maximum monthly insurance premium based on household size (number of dependents/exemptions on your tax return). 

  1. Dependents aged 18 and under are automatically enrolled in the CHIP program on a mandatory basis at no cost. 

  2. Your premium is calculated for the parent(s) and all dependents aged 18 and older. You will never be charged for more than 3 children ranging from newborn to age 20, but you will be charged for all children  aged 21 and older. If your family's total premium is greater than the Maximum monthly Premium shown for your household size and income level, your subsidy will equal the difference. 

  3. Your subsidy is the difference between the maximum premium for your income and family size and the second lowest cost Silver plan in your area. You can apply this amount to any plan available thru the Health Insurance Market Place.

Is your income level above 400% FPL? You do not qualify for a subsidy and can purchase coverage directly from Olson Insurance.

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All children under 300% will be AUTOMATICALLY ENROLLED IN Oregon Health Plan
# of exemptions on your tax return Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments) Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
100% 138% 150% 200% 250% 300% 350% 400%
Family Size Annual Income Annual Income Maximum Monthly Premium Annual Income Maximum Monthly Premium Annual Income Maximum Monthly Premium Annual Income Maximum Monthly Premium Annual Income Maximum Monthly Premium Annual Income Maximum Monthly Premium
1 $11,770 $16,243 $17,655 $59 $23,540 $118 $29,425 $199 $35,310 $280 $41,195 $326 $47,080 $373
2 $15,930 $21,983 $23,895 $80 $31,860 $160 $39,825 $269 $47,790 $378 $55,755 $441 $63,720 $504
3 $20,090 $27,724 $30,135 $100 $40,180 $201 $50,225 $339 $60,270 $477 $70,315 $557 $80,360 $636
4 $24,250 $33,465 $36,375 $121 $48,500 $243 $60,625 $409 $72,750 $576 $84,875 $672 $97,000 $768
5 $28,410 $39,206 $42,615 $142 $56,820 $285 $71,025 $479 $85,230 $675 $99,435 $787 $113,640 $900
6 $32,570 $44,947 $48,855 $163 $65,140 $326 $81,425 $550 $97,710 $774 $113,995 $902 $130,280 $1,031
7 $36,730 $50,687 $55,095 $184 $73,460 $368 $91,825 $620 $110,190 $872 $128,555 $1,018 $146,920 $1,163
8 $40,890 $56,428 $61,335 $204 $81,780 $409 $102,225 $690 $122,670 $971 $143,115 $1,133 $163,560 $1,295

All children under 300% will be AUTOMATICALLY ENROLLED IN Oregon Health Plan

# of exemptions on your tax return Family Size 1
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $11,770
  • $16,243
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $17,655
  • $59
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $23,540
  • $118
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $29,425
  • $199
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $35,310
  • $280
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $41,195
  • $326
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $47,080
  • $373
# of exemptions on your tax return Family Size 2
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $15,930
  • $21,983
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $23,895
  • $80
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $31,860
  • $160
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $39,825
  • $269
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $47,790
  • $378
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $55,755
  • $441
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $63,720
  • $504
# of exemptions on your tax return Family Size 3
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $20,090
  • $27,724
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $30,135
  • $100
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $40,180
  • $201
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $50,225
  • $339
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $60,270
  • $477
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $70,315
  • $557
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $80,360
  • $636
# of exemptions on your tax return Family Size 4
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $24,250
  • $33,465
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $36,375
  • $121
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $48,500
  • $243
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $60,625
  • $409
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $72,750
  • $576
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $84,875
  • $672
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $97,000
  • $768
# of exemptions on your tax return Family Size 5
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $28,410
  • $39,206
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $42,615
  • $142
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $56,820
  • $285
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $71,025
  • $479
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $85,230
  • $675
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $99,435
  • $787
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $113,640
  • $900
# of exemptions on your tax return Family Size 6
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $32,570
  • $44,947
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $48,855
  • $163
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $65,140
  • $326
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $81,425
  • $550
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $97,710
  • $774
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $113,995
  • $902
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $130,280
  • $1,031
# of exemptions on your tax return Family Size 7
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $36,730
  • $50,687
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $55,095
  • $184
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $73,460
  • $368
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $91,825
  • $620
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $110,190
  • $872
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $128,555
  • $1,018
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $146,920
  • $1,163
# of exemptions on your tax return Family Size 8
Adults automatically enrolled in Oregon Health Plan (No Premium or Copayments)
    Annual Income
  • 100%
  • 138%
  • $40,890
  • $56,428
Adult Subsidy Examples (Income is based on "MAGI", Modified Adjusted GROSS income on tax return)
    150%
  • Annual Income
  • Maximum Monthly Premium
  • $61,335
  • $204
    200%
  • Annual Income
  • Maximum Monthly Premium
  • $81,780
  • $409
    250%
  • Annual Income
  • Maximum Monthly Premium
  • $102,225
  • $690
    300%
  • Annual Income
  • Maximum Monthly Premium
  • $122,670
  • $971
    350%
  • Annual Income
  • Maximum Monthly Premium
  • $143,115
  • $1,133
    400%
  • Annual Income
  • Maximum Monthly Premium
  • $163,560
  • $1,295