Calculate Cost of Affordable Care Act - WTVM.com-Columbus, GA News Weather & Sports

Calculate Cost of Affordable Care Act

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Many people are wondering how much they will have to pay if things go as President Barack Obama plans with the Affordable Care Act.

With the open enrollment possibly only hours away, people are scrambling to get their questions answered on how much money they may end up paying.

Staffers at the non-partisan Kaiser Family Foundation created a handy calculator. You can visit their website here. 

The calculator allows a person to pick the state where he or she lives, enter the zip code, plug in an annual salary, the number of people in the family and then add the number of adults, 21 and older, enrolling in exchange coverage.

Finally a person can add the number of children taking part in the coverage.

For example, News Leader 9 calculated a family of four with two adults and two children in Georgia.

It's $7,830 for an unsubsidized annual health insurance premium in 2014.

The maximum percentage of income a person has to pay for a non-smokers premium, if he or she is eligible for a subsidy is $4,913 a year.

That equals 8.19 percent of the household income and covers 63 percent of the overall premium.

A government tax credit subsidy of up to $2, 916 is also available, which covers 37 percent of the overall premium.

This is an example of the silver plan.

There are bronze and gold plans available as well.

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