Understanding Affordable Care Act/Obamacare: What insurance subsidies are available?

CLEVELAND - As part of our special 5 On Your Side reports about "Understanding Obamacare," we are examining what portion of the costs the government will be covering.

The Department of Health and Human Services reported a huge portion of people in Ohio who are uninsured and eligible may qualify for subsidies.

[More information on the Affordable Care Act can be found here: http://on.wews.com/16YbgAV ]

"Right now, I'm in the process of finding employment. I was laid off a month ago," said Desera Maxwell of Cleveland. She does not have employer-based insurance, but she is looking for a full-time job with benefits that would cover her and her child.

"With a 9 year-old son, you get accidents," Maxwell said. "You have certain things. He's real active."

"I think Uncle Sam is going to cover more of the cost than they originally realized," said Gregory Young, who is the Director of Strategy for Medical Mutual of Ohio. He told us if your income falls between 100 percent and 400 percent of the federal poverty guideline and based on the number of people in your family, you could get federal help to pay for your insurance.

For example, single people can make up to $45,960 a year or a family of four up to $94,200 and still get assistance. How much you receive will depend on a sliding scale.

"So, what someone's going to get who's making $89,000 a year versus…(what) a family of four is going to get that's making $25,000 is going to be very, very different," Young said.

Gwendolyn Roberts Majette from the Center for Health Law and Policy at Cleveland State University told us the cost breaks you see from the government can be spent is two ways.

"They will help you pay the cost of the premium and they will also help you pay for cost-sharing like co-payments or deductibles," she said.

Roberts Majette also said if you are not on Medicaid or under the Children's Health Insurance program, the subsidies will be able to help you.

Maxwell said she'll be looking for those cost savings and looking at the new requirements of Obamacare.

"I'm going to do some research and make sure I know exactly what's in play and what I need to do," Maxwell said.

We also found out that when talking about that sliding scale, if you make less than 250 percent of the poverty level you will see extra help from the government.

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