State and federal updates

September 24, 2019 gtutt44 No comments exist

State and federal updates

 

California Affordability Programs
In late June, the Governor signed the state’s fiscal year 2019-20 budget which: ▪ Establishes a state subsidy program providing premium subsidies over the next three years for eligible individuals with incomes at or below 138 percent of the Federal Poverty Level (FPL) and above 200 and at or below 600 percent of the FPL. ▪ Establishes a California individual mandate and penalty starting in 2020 that closely mirrors the federal structure that was in place prior to the penalty being “zeroed out” by Congress.

Improving affordability
California’s Health Care Affordability Programs Effective January 1, 2020 State Subsidy
• Financial help for individuals up to 138% and between 200-600% Federal Poverty Level (FPL)
• Extends eligibility for financial help to nearly million Californians
• Covered California administers program
State Individual Mandate and Penalty • Requires Californians to enroll in minimum essential coverage, receive an exemption or pay a penalty.
• Penalty is greater of $695 per adult ($347 per child) or 2.5% of annual household income
• Franchise Tax Board implements and collects penalties

FOR MORE CALL 909-656-4885

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