We know paying for health coverage can feel overwhelming. Here are five clear, actionable strategies to help you pay less for your ACA plan—no gimmicks, no jargon, just real steps you can take now.
1. Estimate and Report Your Income Accurately
Your premium tax credit (the monthly discount on your premium) is based on your estimated annual income.
- Gather recent pay stubs, social security benefit letters, or business income records.
- Enter the most realistic income estimate on your Marketplace application.
- Report any income changes (raises, bonuses, job changes) right away so your credit adjusts automatically.
Why it matters: If you overestimate, you leave money on the table. If you underestimate, you may owe money at tax time. Staying accurate keeps your monthly premium as low as possible1.
2. Choose a Silver Plan for Cost-Sharing Reductions
If your household income is up to 250% of the federal poverty level, you qualify for cost-sharing reductions (CSRs)—but only on Silver plans2. CSRs slash your out-of-pocket costs (deductibles, copays) and increase your plan’s value from 70% up to 94%.
Action steps:
- When shopping, filter for Silver plans.
- Verify the CSR-enhanced plan shows a lower deductible and copayment.
- Confirm your eligibility remains below 250% FPL.
Benefit: You’ll pay a slightly higher premium than Bronze, but save far more when you get care.
3. Adjust Your Advance Premium Tax Credit Election
The Marketplace lets you choose how much of your credit you apply in advance each month versus reconcile on your tax return.
- If you need lower monthly bills, increase your advance credit.
- If you prefer avoiding year-end tax surprises, lower your advance credit and take the balance later.
Action steps:
- Log in to HealthCare.gov or your state exchange.
- Edit your application and slide the “advance credit” bar.
- Preview how your premium changes.
Benefit: Control cash flow by customizing monthly payments to your budget.
4. Shop State-Based and Local Subsidy Programs
Some states (like New Jersey) offer supplemental state subsidies on top of federal credits3.
- Check if your state marketplace has its own financial help program.
- Apply through your state’s exchange to see combined savings.
- Compare the net premium across federal vs. state options.
Action steps:
- Visit your state’s ACA exchange website.
- Complete a “with financial help” application.
- Review any extra state credits reducing your premium.
Benefit: You may qualify for deeper discounts than federal subsidies alone.
5. Time Your Enrollment with Special Enrollment Periods
Major life events (job loss, marriage, new baby) trigger a Special Enrollment Period (SEP)—you don’t have to wait for Open Enrollment.
- Use an SEP to switch to a plan with better subsidies as soon as your income or household changes.
- Losing job-based coverage often gives you 60 days to enroll.
- Marriage or adding a baby can boost your subsidy eligibility overnight4.
Action steps:
- Report your qualifying event to the Marketplace within 60 days.
- Upload proof (marriage certificate, birth record, termination letter).
- Shop plans again to capture higher subsidies.
Benefit: You avoid months of overpaying and lock in the best premium available to your new situation.
Real Savings in Action
When Simon in Jacksonville saw his family grow, he worried premiums would skyrocket. We helped him update his income, choose a CSR-eligible Silver plan, and adjust his advance credit. His monthly premium dropped by $150—and his newborn’s care was fully covered at the in-network hospital5.
Next Step: Review Your Plan Today
Log in to your Marketplace account now. Update your income estimate, switch to a Silver plan if eligible, and explore any state subsidies you may qualify for.
Need help? We’re here to guide you step-by-step—no stress, no surprises. Reach out for a free coverage review at support@simplestartinsurance.com or call (786) 730-9658.
Your peace of mind starts with Simple Start. Let’s make your coverage as affordable as it can be.
