As the October first open enrollment looms for insurance marketplaces created under the Affordable Care Act, Americans are being urged to learn more about how the act affects them.
Ron Pollack, executive director of Families USA, says 1,739,000 Illinois residents could benefit by signing up. He says annual premiums for those who buy coverage through the exchanges, are projected to be $8,250, but the cost will be offset by tax subsidies:
"Under the Affordable Care Act, people and families with incomes up to 400% of the federal poverty level are eligible for tax credit premium subsidy. Let me translate for you. For a person living alone, the eligibility extends to approximately 46,000 in annual income."
In a conference call, Pollack says for an Illinois family of four, the level is approximately $94,200. The subsidies will be on a sliding scale with more help for those at lower income levels, less for those higher up. Pollock also says 5.6-Million Illinoisans with pre-existing conditions who either can't get coverage, or fear losing it if they change jobs, would be protected under the Act.
More information is at http//www.hhttp//www.healthcare.govealthcare.gov
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