Randy and Denise Walter live in St. Louis, Missouri. (Click the icon to view additional information.) (Click the icon to view the 2019 federal poverty guidelines and premium levels deemed affordable as a percent of household income tables.) Their premiums for coverage vary by the type of plan. (Click the icon to view the plan types.) Requirement What is the after-tax-credit cost of health insurance for the Walters under each of the plans described above? (Round your answer to the nearest whole percent, X%.) The Walters' household income relative to the federal poverty guideline (FPG) is 278 %. (Round intermediary calculations and your final answer to the nearest hundredth of a percent, X.XX%.) The affordable premium rate is 9.2 %. (Round your answers to the nearest whole dollar.) The premium amount deemed affordable for the Walters is $ 4,324 The maximum premium tax credit is $ 1,184, Under a Gold plan, the Walters' personal share of their health insurance premiums equals $ 6,496 Under a Silver plan, the Walters' personal share of their health insurance premiums equals $ 4,324 Under a Bronze plan, the Walters' personal share of their health insurance premiums equals $ 3,376 Randy and Denise are each 30 years old, neither smokes, and they have no children or other dependents. Randy is attending law school full time and working part time (2019 earnings = $9,200). Denise works full time (2019 earnings $37,800). Their 2019 household income is more than 250% of the FPG (but not more than 300% of the FPG). Denise 's employer does not offer employee health insurance coverage. The Walters choose to purchase insurance through the federal exchange operating in Missouri. They are credit eligible for all 12 months in 2019. a. Under a Gold plan, monthly premiums are $640 (covers 2) per month, so the annual cost of coverage is $7,680. b. The second-least-expensive Silver plan (the benchmark plan) involves premiums of $459 per month (covers 2), or $5,508 per year. c. Under a Bronze plan, monthly premiums are $380 (covers 2) per month, so the annual cost of coverage is $4,560. 2019 Federal Poverty Guidlines (FPG) People Poverty Guideline Family/Household (100%) 1 person $ 12,490 2 people $ 16,910 3 people $ 21,330 4 people $ 25,750 5 people $ 30,170 6 people $ 34,590 7 people $ 39,010 8 people $ 43,430 Add $4,420 per person beyond 8. 2019 Affordable Premium Levels as a Percent of Household Income Affordable Premium as a Percent of Household Income Categories of Household Income Relative to the FPG Initial % Final % 2.08% 2.08% 4.15% 4.15% 100% up to 133% FPL Over 133% up to 150% FPL Over 150% up to 200% FPL Over 200% up to 250% FPL Over 250% up to 300% FPL 6.54% 6.54% 6.54% 8.36% 8.36% 9.86% Over 300% up to 400% FPL 9.86% 9.86% Randy and Denise Walter live in St. Louis, Missouri. (Click the icon to view additional information.) (Click the icon to view the 2019 federal poverty guidelines and premium levels deemed affordable as a percent of household income tables.) Their premiums for coverage vary by the type of plan. (Click the icon to view the plan types.) Requirement What is the after-tax-credit cost of health insurance for the Walters under each of the plans described above? (Round your answer to the nearest whole percent, X%.) The Walters' household income relative to the federal poverty guideline (FPG) is 278 %. (Round intermediary calculations and your final answer to the nearest hundredth of a percent, X.XX%.) The affordable premium rate is 9.2 %. (Round your answers to the nearest whole dollar.) The premium amount deemed affordable for the Walters is $ 4,324 The maximum premium tax credit is $ 1,184, Under a Gold plan, the Walters' personal share of their health insurance premiums equals $ 6,496 Under a Silver plan, the Walters' personal share of their health insurance premiums equals $ 4,324 Under a Bronze plan, the Walters' personal share of their health insurance premiums equals $ 3,376 Randy and Denise are each 30 years old, neither smokes, and they have no children or other dependents. Randy is attending law school full time and working part time (2019 earnings = $9,200). Denise works full time (2019 earnings $37,800). Their 2019 household income is more than 250% of the FPG (but not more than 300% of the FPG). Denise 's employer does not offer employee health insurance coverage. The Walters choose to purchase insurance through the federal exchange operating in Missouri. They are credit eligible for all 12 months in 2019. a. Under a Gold plan, monthly premiums are $640 (covers 2) per month, so the annual cost of coverage is $7,680. b. The second-least-expensive Silver plan (the benchmark plan) involves premiums of $459 per month (covers 2), or $5,508 per year. c. Under a Bronze plan, monthly premiums are $380 (covers 2) per month, so the annual cost of coverage is $4,560. 2019 Federal Poverty Guidlines (FPG) People Poverty Guideline Family/Household (100%) 1 person $ 12,490 2 people $ 16,910 3 people $ 21,330 4 people $ 25,750 5 people $ 30,170 6 people $ 34,590 7 people $ 39,010 8 people $ 43,430 Add $4,420 per person beyond 8. 2019 Affordable Premium Levels as a Percent of Household Income Affordable Premium as a Percent of Household Income Categories of Household Income Relative to the FPG Initial % Final % 2.08% 2.08% 4.15% 4.15% 100% up to 133% FPL Over 133% up to 150% FPL Over 150% up to 200% FPL Over 200% up to 250% FPL Over 250% up to 300% FPL 6.54% 6.54% 6.54% 8.36% 8.36% 9.86% Over 300% up to 400% FPL 9.86% 9.86%
