What is a Federal Poverty Level?

Updated on 3/11/20
Re-posted on 3/11/20

Everyone has a “federal poverty level” (FPL), even wealthy people. They just have a higher FPL. People that have a “household” income that falls between 138% up to 400% of the FPL (Federal Poverty Level), can get assistance with paying for their health insurance premiums called an Advanced Premium Tax Credit.  If you make less than 138% of the FPL, in Nevada you qualify for Medicaid, which is free.

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RePost - The Federal Poverty Level & Your Health Insurance Subsidy

Do You Qualify for a Health Insurance Subsidy?

Click here to find out: Individual and Family Health Insurance

The less money you make the more financial help you will get, the more money you make, the less financial assistance you get.  If you make over 400% of the FPL, you won’t qualify for any financial assistance (AKA – subsidy).  You can buy your “qualified health plan” insurance anywhere you want, but if you want a “subsidy” your income must be between 138% – 400% FPL.

You can call us for help with both Subsidized and Unsubsidized health insurance plans.

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Qualifying for a Government SUBSIDY (Financial Assistance)

Qualifying for a SUBSIDY means you make less than 400% of what the Federal Government says is the “Federal Poverty Level”.  If you qualify for an Individual / Family Health Insurance Subsidy (financial assistance), it’s kind of like getting a Gift Card from the Government to help you pay your health insurance premiums.  This “subsidy” is sent to the insurance company to help you pay your premiums, and you’d pay the other portion of the premium to the insurance company.

The only way to get a “Subsidy“ is to get a health insurance plan through Nevada Health Link (we will walk you through this) and only if your income is between 138% to 400% of the federal poverty level.

Be careful not to get TOO MUCH subsidy.  At the end of the year, the IRS will adjust what you’ve received, and what you should have received, and if you ended up getting too much subsidy, you’ll have to pay it back, or if you didn’t get enough subsidy, you’ll get it back on your tax return.  If your income goes up or down, or you had changes to your family, you need to notify us as your broker, of these changes.  We can help you with this.

ON Exchange Marketplace plans for 2020 include Health Plan of Nevada (HMO), Anthem Blue Cross Blue Shield (HMO), and Ambetter / Silver Summit (HMO).  In 2020, different counties in Nevada will have between 2 insurance companies or all 3 insurance companies as an option to choose from.

Open Enrollment begins November 1st.

Let the Experts at Nevada Insurance Enrollment Guide You

Our health insurance agents are here to help and guide you. We will guide you step-by-step throughout the various plans from the available insurance companies and find the one best suited for you. We are an Insurance “BROKER“, which means we shop numerous insurance companies to find you the BEST plan…for the BEST price. We work for YOU, not the insurance company. Having an agent help you doesn’t cost you anything, the service we offer is FREE. The INSURANCE COMPANY pays the agent to assist you.

Related Articles:

Health Insurance in Las Vegas, Nevada WITH a Subsidy

Do you make less than 250% of the Federal Poverty Level?

Health Insurance “Subsidy” aka Advanced Premium Tax Credit

What is Medicaid?

Read More: Health Insurance in Las Vegas, Nevada

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