What are the Limitations of Subsidized Plans?

A subsidy is a type of financial aid/loan. You can be eligible for Advanced Premium Tax Break Subsidy if your income is between 100-400% above the Federal Poverty Level. However, many people don’t understand the downfalls of having a subsidized healthcare insurance plan. Unfortunately, there are many limitations of having a subsidized plan. Below are a few facts that everyone should know when purchasing a subsidized plan.

• Many doctors do not take new patients who have subsidized plans.
• The networks are limited to only counties and cities.
• If you get sick or hurt out of state, your plan will not cover 100% of your bills.
• You do not get to customize your plan meaning you do not get to choose your monthly premium, deductible, etc.
• 2017 Open enrollment is only from November 1- December 15.
• If you find a new job or your income changes, you need to go to the marketplace and change your income statement.
• You may have to repay some or all of the money back.