How To Save Money On Monthly Insurance Premiums


When you buy health insurance coverage in the Marketplace, you may be able to get a premium tax credit that lowers what you pay in monthly premiums. Last year, 86% of West Virginians that enrolled through the Marketplace qualified for savings. This will depend on your 2015 household size and income.




How To Save On Out-of-Pocket Costs


When you enroll in health insurance through the Marketplace, you may be able to save money on out-of-pocket costs (co-pays, deductibles, co-insurance). These are the costs you have to pay when you get care. This extra savings you might qualify for is sometimes called “cost-sharing reductions.” Whether you qualify for “cost-sharing reductions” will depend on your income and household size.



*If your income qualifies you for out-of-pocket savings (cost sharing), you must choose a Silver plan to get the savings.



Is There A Penalty For Not Having Health Insurance?


Since 2014, having health insurance is the law.  If you do not have health insurance then you could face a penalty when you file your taxes. The penalty for 2015 was $325 or 2% of your annual income, whichever is greater. The penalty for 2016 is $695 or 2.5% of your annual income, whichever is greater. Calculate your ACA tax penalty here.



WV's Health Insurance Helpline

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