Seeing your shopping total get lower at the cash register is a satisfying experience. From coupons to discount codes, many of us use what we can to manage our budget.

The health care marketplace has a cost-reducing option too. The Affordable Care Act  (ACA) health insurance subsidies are designed to lower the out-of-pocket cost for your monthly premium.

What Are Subsidies?

Subsidies are discounts that lower your monthly premium (the cost you pay each month) and your out-of-pocket costs (like deductibles and copays). The government offers two options – a Premium Tax Credit  (PTC), which lowers your monthly bill and a Cost-Sharing Reduction  (CSR), which lowers what you pay when you get care on select plans.

What Are Subsidies Based On?

The ACA subsidies, or premium tax credits, depend on:

• Your income
• Your family size
• Where you live
• Whether you have access to other insurance options, like a plan offered by your employer

Can I Qualify for Financial Help?

You may qualify for financial help if your household income is between or above certain federal poverty level (FPL) guidelines. For example, you may qualify if your income is between $31,000 and $120,000 for a family of four. This can vary by state, as some states have higher health insurance costs than others. This also depends on how many people live in your household.

How To Check

When you apply on the health insurance marketplace  and answer a series of questions, the website will tell you right away if you qualify for help.

Will Financial Help Be Available Next Year?

Even if you did not get a subsidy last year, you may qualify this year. Subsidy options may change but so do incomes and family situations. With these changes in mind, it’s important to check your health plan options each year. Always check during the Open Enrollment Period.

Need Help?

Blue Cross and Blue Shield of Texas will always keep an eye on marketplace changes. We’ll give you the best plan options we can. We’re here to help you navigate changes and find your ideal coverage for next year.

To learn what help may be available to you, call 888-731-0383 or visit bcbstx.com. Or contact an independent, authorized agent for BCBSTX.