In 2024, a job-based health plan is considered "affordable" if your share of the monthly premium in the lowest-cost plan offered by the employer is less than 8.39% of your household income.
Refer to glossary for more details.
minimum standardsA standard of minimum coverage that applies to job-based health plans. If your employer’s plan meets this standard and is considered “affordable,” you won’t qualify for a premium tax credit if you buy a Marketplace insurance plan instead.
Refer to glossary for more details.
. Most job-based plans meet these standards.If you have job-based coverage now, you might be able to change to a Marketplace plan. You probably won’t qualify for the
premium tax creditA tax credit you can use to lower your monthly insurance payment (called your “premium”) when you enroll in a plan through the Health Insurance Marketplace®. Your tax credit is based on the income estimate and household information you put on your Marketplace application.
Refer to glossary for more details.
or other savings, but there's no risk in applying to see if you qualify. You won't automatically get coverage and can still choose your job-based plan.
If you have a Marketplace plan and get an offer of health insurance through a job, you may no longer qualify for savings on your Marketplace plan even if you don’t accept the job-based coverage offer.
If you have an offer, but haven’t accepted it yet: Update your Marketplace application to find out how this offer impacts your Marketplace savings. If you (or your household) qualifies for savings, you may want to keep your Marketplace coverage. Get details before accepting the offer.
If you already accepted the offer of job-based insurance: You may want to cancel your Marketplace plan for yourself and anyone else in your household eligible for the new job-based coverage. You won’t qualify for savings if you’re enrolled in a job-based plan. Find out how to cancel your Marketplace plan.