Do I qualify for a subsidy?
Many people whose employers do not help pay for health insurance will qualify for financial help to pay for private insurance. You must buy coverage through Cover Oregon.
Cover Oregon's calculator will help determine if you qualify. Eligibility depends on your family size and household income. For example, a family of four making up to $94,200 (400 percent of the 2013 federal poverty level) will be eligible for tax credits to help lower monthly premiums. Learn more.
How do tax credits work?
If you qualify for tax credits, you can:
- Have the credit paid in advance to your insurance company to lower what you pay for your monthly premiums
- Wait to claim all of the credit when you file your tax return for the year or
- Use part of the estimated tax credit in advance.
If you use tax credits before filing your taxes, you must update Cover Oregon during the year if you have changes to income, family (such as having a baby), or employment (such as getting a job where health insurance coverage is offered). Cover Oregon will change the tax credit amount to reflect the new information.
If you forget to update Cover Oregon, you might owe money at tax time. Visit Cover Oregon for more information about tax credits.
You can also find more about the tax credit here.