NY State of Health, the official health care exchange, has made a premium and tax credit estimator available. Individuals with household incomes below $45,960 and a family of four with a household income below $94,200 may qualify for tax credits or subsidies when purchasing insurance on the exchange.
Learn what plans are available in your region and how much you can expect to pay.
NY State of Health began accepting registrations on October 1, 2013 for coverage beginning January 1, 2014.
The NY State of Health hotline is now open for questions, Monday through Friday, 8 AM- 8 PM and Saturday, 9 AM- 1 PM. Call 1-855-355-5777 for more information.
Small Business Premium and Tax Credit Estimator
Some small businesses offering insurance to employees also may qualify for tax credits when purchasing insurance through the Small Business Health Options Program (SHOP) exchange. The SHOP exchange premium and tax credit estimator is available here.
• Employers with fewer than 25 employees and average wage rates below $50,000 may be eligible for tax credits to offset part of the cost of employee health insurance coverage. The amount of the credit shrinks once a business surpasses 10 employees and/or an average wage of $25,000.
• The credits can only be used if there are tax liabilities to offset.
• The credits can offset up to 35% of the employer portion of premium contributions through 2013.
• The maximum percentage rises to 50% in 2014 but is only obtainable when purchasing insurance through a SHOP exchange.
• Beginning in 2014, the credit is only available for a maximum of two years.
