Health care costs are on the rise. Fortunately, the federal government has several programs in place to combat high medical expenses for lower-income families. The top government health care programs that can grant you low-to-no-cost health insurance include the following:
The Affordable Care Act (ACA) pays a portion of your health insurance premium. The amount is based on your income and the number of people in your household. For example, you might qualify for a subsidy if you are a single person with an income between $14,580 and $58,320 in 2023.
Similarly, if your household has six people, you may still be eligible with collective earnings between $40,280 and $161,120 in 2023.
Medicaid is a health insurance program if you have a low income and limited resources. Each state runs its Medicaid program, so eligibility requirements vary by area, but you typically qualify if you earn less than the federal poverty level.
The Children’s Health Insurance Program (CHIP) is a part of Medicaid that provides medical coverage for minors. Children can qualify for this program even if their parents or caretakers are not eligible for Medicaid.
Medicare is a health insurance program for seniors and those with qualifying disabilities and conditions. For most older people, the program replaces medical coverage they lost through an employer by retiring. Premiums for these policies are free to low cost for those the government considers insured.
If you are part of a military family, you might be able to enroll in additional programs or have other grants available to you that civilians do not have access to.
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