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Tax Credits & Subsidies

People may be eligible for different federal subsidies and financial help based on their individual or household incomes.

When applying for health insurance, you’ll find out if you qualify for premium tax credits and extra savings. These are called cost sharing reductions (CSRs) which is a discount or financial assistance that comes from the federal government for individuals who are in the 138-250% Federal Poverty Level (FPL). These CSRs lower the amount you have to pay for deductibles, copayments, and coinsurance. In the Health Insurance Marketplace, cost-sharing reductions are often called “extra savings.” If you qualify, you must enroll in a plan in the Silver category to get the extra savings.

Another one of the federal subsidies available to individuals and families is called an Advanced Premium Tax Credit (APTC). Once you answer some brief questions in our pre-screener tool, we’ll tell you if you qualify for the federal tax credit. If you qualify, the federal tax credit will reduce your costs of the insurance plan right away and go directly to the insurance company, so you will be paying less on your monthly bills right from the start. Learn more about financial help for individuals.

If you do not qualify for financial assistance because your income is below the 138% FPL, you may be eligible for Medicaid. If your income is above the 250% FPL, you will not be eligible for financial assistance, but you can still apply for a marketplace plan and enroll in coverage.

Federal tax credits and other subsidies are only available if you enroll through Nevada Health Link.

What are “income-based costs” and how are they calculated?

How much you pay each month for health insurance can be based on your annual household income. This sample chart shows different income levels relative to household size and a measurement called the Federal Poverty Level (FPL).

Annual Income at 100% of the Federal Poverty Level and Other Levels (Updated Jan. 31, 2017)

For example, if you’re a family of four in the 200% FPL (meaning 200% of the number that the federal government designates as “living in poverty” for that size family) group, you earn approximately $47,700 per year and you’ll be paying about $250 a month for insurance for your entire family if you choose the Silver plan. People will be eligible for different federal subsidies and financial help from the federal government based on their household income. One of the federal subsidies available is called an Advanced Premium Tax Credit (APTC). Once you fill out your application, we’ll tell you if you qualify for the credit. If you do qualify, the credit will go directly to the insurance company so you will be paying less on your monthly bills right from the start. Cost Sharing Reductions (CSRs) are another federal subsidy that is applied to lower your out-of-pocket healthcare costs. Individuals and families who make less than 250% of the Federal Poverty Level ($29,175 for an individual and $59,625 for a family of four) are eligible to receive CSRs.

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