Is Health Insurance Based On Income?

  1. 1575 POINTS
    Christopher Lawrence
    Insurance Broker | Financial Consultant, Lawrence Insurance Consulting, Southern New Jersey
    Health insurance is not coordinated in a manner that is directly effected by income. The reason that disability insurance has limits which generally do not provide for over 70%(including other disability coverage such as state disability) of ones income is to prevent the policy holder from creating a situation where collecting disability payments is more profitable then returning to work, Because of the significantly different situations in which a person will be submitting a claim to their insurance company their is no such coordination between ones income and their coverage options. Although any health insurance premiums that had a annual expense of 9.5% or more of a individual or households modified adjusted gross income is viewed as being a excessive financial drain(although this is only really relevant to employees who are offered to participate in a group health insurance policy).
    Answered on July 19, 2013
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  2. 1305 POINTS
    Neil Steinman
    Owner, Orange County Health & Life Insurance,
    Under the Affordable Care Act... although the plans have not been released yet... it appears that there may be different "Silver" tier plans available based on income. The lower your income, the lower the copays, etc. However, I would also add that Subsidies (to help pay your premiums) are based on your income.
    Answered on July 19, 2013
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