ATLANTA - Millions of Americans will have to purchase health care insurance when portions of the Affordable Care Act take effect Tuesday.
“I feel like I’m being forced to pay for something I don’t need,” Kay told Channel 2’s
Kay received basic information about the new plans from his employer, but he told Bachman it’s still not clear how much it will cost him.
"My job gave us a form to read and everything; it would cost me at the low end $100 dollars a month. That's low end," Kay said.
Kay may qualify for federal subsidies to help defray the cost of health care, according to tax expert Buffie Purselle.
"If you're a family of four and you earn less than $94,000, you'll qualify for a subsidy. A single person earning less than $45,000 a year will also qualify for a subsidy," Purselle said.
There are a series of online calculators that allow households to calculate their cost.
Using a calculator from the Kaiser Family Foundation, Bachman learned a Cobb County family of four with a yearly income of $50,000 in which both adults more than 40 years old and do not smoke would pay less than $9,000 per year. But they would also get a $5,500 tax credit subsidy for a total of about $280 per month.
"I've heard all the talking heads saying it could be $300 dollars a month, but we really don't know until tomorrow, until we can get the real data," Purselle said.
The price goes up or down depending on the coverage selected and income. If that same family of four had an income of $90,000 a year, the subsidy nearly disappears and the monthly cost climbs to $700.