The Affordable Care Act calculator uses geographical location, yearly income, the number of people in a family, the number of adults, and the number of children a person has to determine the cost of health care, according to NPR. A person also has to reveal whether his employer offers health coverage. The calculator may also inform a person if he qualifies for subsidies, which reduce the overall amount of coverage.Continue Reading
After determining how much health insurance likely costs, an individual sees which health insurance policies are available that meet his needs, notes NPR. Those who are able to afford health care and don't have it might be hit with a tax penalty the next time they file their taxes. Various sources are available to answer the questions of anyone confused about how to sign up for health care, if they qualify for subsidies, and how much they are likely to pay for coverage.
Checking eligibility for Medicaid is also possible with the Affordable Care Act calculator, according to the Kaiser Family Foundation. Individuals should reach out to their state's Medicaid office if they have questions concerning enrollment. No matter whether the calculator is used for health insurance or Medicaid, all calculated results are estimates, which may differ from the actual amount a person has to pay.Learn more about Financial Calculations