The Kaiser Family Foundation maintains an online “Subsidy Calculator” to give individuals and families an idea of how much their health insurance will cost under Obamacare and how much of a federal subsidy they may get—or not get—to help pay for it.
Because the federal government has not yet published the Federal Poverty Level numbers for 2014, the calculator uses the FPL numbers for 2013. This year, the FPL for a family of five (a mom, a dad, and three children) is $27,570. Four hundred percent of FPL for a family of five is $110,280.
That means that, under Obamacare’s health-insurance subsidy rule, a family of five that earns $110,280 in a year, and buys health-insurance on the government-run exchange, will have their premiums capped at 9.5 percent of their income (if they buy the second-lowest costing “Silver” plan or a cheaper plan).
But if the mom in this family gets a 50-cent raise and dad gets a 50-cent raise, too—so that their adjusted gross household income increases by a combined $1 (to $110,281)—the family will no longer have a cap on the percentage of their income they must pay for health-insurance premiums.
So, what will that $1 increase in household income cost them?