Subsidies are calculated using a complicated formula based on the cost of insurance premiums, which can vary drastically from state to state, and even county to county. To calculate premium subsidies, the government sets a maximum amount that low-income customers will have to pay for insurance as a percentage of their income. "The way the subsidy works is by capping the percent of your income that you'd have to spend on a silver premium," said Cynthia Cox, a policy analyst at the Kaiser Family Foundation, referring to the medium-level insurance plan the government uses as the baseline. Still, because of what government officials have been saying about who would get subsidies, many low-income consumers are counting on subsidies to lower their costs, no matter how small those costs may initially be.
Source: CNN
Link: http://bit.ly/Iml7Y8
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