Question: My daughter is turning 26 and will no longer be covered by my Medical Insurance plan provided by my company. She is a full time student at BSU with low income (< 10,000), should she apply for insurance on the Idaho exchange?
Answer: Thanks for the question. Per your email, you stated her income is lower, (<10,000). Here are the basic rules we follow. If her income is below $11,770 she would not qualify for a Tax Credit to help pay for insurance. She would have to purchase insurance at full retail price. (this is the “income gap” we speak about where she should qualify for Medicaid but Idaho has not expanded Medicaid at this point in time).
If her income is above $11,770 and below $47,080 she would qualify for a Tax Credit to help buy insurance. In addition if her income is below $29,425 she would also qualify for additional help which reduces deductibles, copays and out of pocket maximum expenses.
The closer to $11,770 her income is…the more affordable coverage becomes for her…thus the Affordable Care Act.
You can reach me in my office at 433-8312 where I can certainly help you with specifics related to her income. There is no cost to you or your daughter to speak with me or use me as your agent. I look forward to helping you and your daughter.