The Affordable Care Act (Obamacare) is a way to help lower-income individuals and individuals without health care afford health care. Although health care is still extremely expensive, the Affordable Care Act provides subsidies. This article will look at the subsidy amounts by income for the ...
For 2020 coverage, those making between $12,490-$49,960 as an individual, or $25,750-$103,000 as a family of 4, qualify for ObamaCare. For 2021, those making between $12,760-$51,040 as an individual, or $26,200-$104,800 as a family of 4, qualify.
What is Modified Adjusted Gross Income Used for Under ObamaCare? For the Affordable Care Act (ACA), MAGI is used for: Determining Marketplace Cost Assistance:MAGI helps calculate how muchcost assistance(such as tax credits and cost-sharing subsidies) you are eligible for. You’ll use your pro...