It’s possible you may qualify for financial help to lower the cost of your plan. According to the GetCoveredNJ website
, there are three types of financial assistance: premium tax credits, cost-sharing reductions and NJ Health Plan Savings, a new state subsidy offered by the state of New Jersey. Premium tax credits and the state subsidy help lower your monthly premium payments. Cost-sharing reductions help lower your out-of-pocket costs like deductibles and co-pays for doctor visits.
In New Jersey, a family of four earning up to about $104,800 a year and an individual earning up to about $51,040 a year can qualify for financial assistance. In 2019, nearly 8 in 10 New Jerseyans on the Marketplace got a tax credit to help pay for their plan.
Visit Get Covered NJ’s Financial Help page
for more information. It’s also important to note that the Get Covered NJ site is the place to also apply for coverage for NJ FamilyCare, which is a state program for healthcare coverage based on income.