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Obamacare Health Insurance Subsidy Calculator

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Starting in 2014 a law will prompt employers to make changes to their health care offerings to their employees. The law is the Patient Protection and Affordable Care Act (PPACA). It is also known as the federal health care law or Obamacare (named after President Barack Obama who signed the federal statute into law on March 23, 2010). There are many aspects to the Patient Protection and Affordable Care Act but there are some specific changes to start in 2014 that may change the health care benefits many employers offer and will possibly make many employers decide not to offer health insurance to their employees.

Under the Affordable Care Act or Obamacare everyone will be required to purchase health insurance or have to pay a penalty. For those who currently have health insurance provided by their employer and have found out that due to the Affordable Care Act or Obamacare that their employer will no longer provide health insurance and for those who do not carry health insurance at all, the idea of being required to find an affordable health insurance option or be financially penalized can be concerning.

The Kaiser Family Foundation has put together an online Obamacare calculator that may help east these concerns. This calculator will help individuals and families get a general idea of how much health insurance may cost them if purchased through the Affordable Care Act or Obamacare.

Let's take a closer look at how to use the Affordable Care Act or Obamacare calculator and the results it produces.

The Kaiser Family Foundation Obamacare calculator is very straightforward and simple to use. To start one simply needs to open the link to the Kaiser Family Foundation Obamacare Subsidy Calculator tool. One will initially see instructions about the tool that explains some information about the tool and how to use it.

Next, one would simply enter answers to seven basic questions that will be the basis for determining an approximate amount one would pay for their health insurance through Obamacare and how much their government subsidy may be. The government subsidy is the amount that the government will pay towards one's health insurance depending on the answers to the questions offered in the subsidy tool.

After one enters the required information they will immediately receive their results directly under the subsidy calculator tool. The results are broken down into various categories. The main category many using the tool are most interested in is the one titled: Amount You Pay for the Premium. This will be the main estimate of approximately how much one would pay yearly for their health insurance through Obamacare.

Although the Kaiser Family Foundation subsidy calculator is a great, straight forward tool to help one get a general idea of how much their health insurance may cost under Obamacare there is a common question many ask about a particular entry: Tobacco Usage

The tobacco usage question and how it may alter one's health insurance premium is a concern for many looking for health insurance in any market. The Affordable Care Act or Obamacare will allow states to charge up to 50% more in premiums to those who use tobacco products and that increase in premium is not allowed to be subsidized by the Obamacare program. In other words, if one uses tobacco products they will pay much more out of their own pocket without the help of government money to help reduce their health insurance premiums.

Overall the Kaiser Family Foundation Affordable Care Act or Obamacare health insurance subsidy calculator will serve as a great tool for many that are concerned about how the health care law will change their personal finances. However, it is important to remember that although this tool will be able to give one a fairly good and accurate indication of how the law will affect them, it is not exact and it is not a quote or guarantee of health insurance coverage. To find out more about how to apply for health insurance coverage through Obamacare visit www.healthcare.gov/families

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