The NY State of Health is now offering new plans for individuals whose incomes fall between 100% and 200% of the Federal Poverty Level (FPL) called “Essential Plans.”
Individuals whose income falls below 200% of FPL will no longer be eligible to enroll in a Qualified Health Plan (QHP) and receive a tax credit (subsidy).
Until 2015, individuals enrolled in Silver plans whose income fell between 138% and 250% of FPL were receiving cost-sharing reductions. With the introduction of Essential Plans, cost-sharing reductions will ONLY be available for individuals on Silver plans whose incomes fall between 200% and 250% of FPL and enroll in a plan through the New York State of Health Marketplace/Exchange.
If you order to receive a tax credit at the time of enrollment, you must provide your projected adjusted gross income for the year in which you are enrolled. Many freelancers and sole proprietors have fluctuating income during the year and their income may vary significantly from one year to the next, therefore it is important that we discuss how projected income will determine which plan you are eligible for.
Below is a summary of the benefits, coverages and cost-sharing information for the Essential Plans:
JayMar provides qualifying individuals with Essential Plans through UnitedHealth Care and Affinity Health Plan.
QUALIFYING INDIVIDUALS CAN ENROLL IN ESSENTIAL PLANS AT ANY POINT DURING THE YEAR
For more information please call JayMar Insurance at (516) 605-2757