2014 Federal Poverty Levels (FPL) For Obamacare

Department of Health and Human Services Seal

People who don’t have health insurance from work can shop now for health plans on health care exchanges for 2014. The premiums are made affordable by a premium subsidy in the form of a tax credit calculated off your income relative to the federal poverty levels (FPL), also known as HHS poverty guidelines.

You qualify for the premium subsidy only if your modified adjusted gross income (MAGI) is at 400% FPL or below. Modified Adjusted Gross Income for Obamacare is basically your gross income minus above-the-line deductions, plus tax-exempt muni bond interest, plus untaxed Social Security benefits. In order to see if you qualify for the premium subsidy, you have to know where the FPL is.

Here are the numbers for 2013 and 2014. They increase with inflation every year in mid-January.

There are three sets of numbers. FPLs are higher in Alaska and Hawaii than in 48 contiguous states and Washington DC.

48 Contiguous States and Washington DC

Number of persons in household 2013 2014 400% 2014
1 $11,490 $11,670 $46,680
2 $15,510 $15,730 $62,920
3 $19,530 $19,790 $79,160
4 $23,550 $23,850 $95,400
more add $4,020 each add $4,060 each add $16,240 each

Alaska

Number of persons in household 2013 2014 400% 2014
1 $14,350 $14,580 $58,320
2 $19,380 $19,660 $78,640
3 $24,410 $24,740 $98,960
4 $29,440 $29,820 $119,280
more add $5,030 each add $5,080 each add $20,320 each

Hawaii

Number of persons in household 2013 2014 400% 2014
1 $13,230 $13,420 $53,680
2 $17,850 $18,090 $72,360
3 $22,470 $22,760 $91,040
4 $27,090 $27,430 $109,720
more add $4,620 each add $4,670 each add $18,680 each

Source:

[Photo credit: Flickr user DonkeyHotey]

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Comments

  1. Steve Treisman says

    My adjusted gross income for 2014 is now expected to be in the 46,400 range. I signed up for Obamacare in December, 2013 starting in January 2014 and am receiving a subsidy. My subsidy was based on the 2013 FPL levels which I estimated my MAGI to be $45,000. When I reconcile my 2014 taxes do I reconcile using the 2013 or 2014 Federal Poverty level?
    400% of the FPL for 2014 is $46,680 which means I receive a subsidy.
    400% of the FPL for 2013 is $45,960 which means no subsidy and must be back the subsidy I received.
    Which one is correct? I am receiving conflicting answers. Thank you.

    • Harry Sit says

      It’s 2014 income against 2013 FPL. You are cutting it very close. A dividend payment or year-end capital gains distribution from your investments can throw you over. Please do all you can to manage it down, including making tax-deductible contributions to 401k, IRA, and HSA. See Stay Off the Obamacare Premium Subsidy Cliff.

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