CHIP provides low-cost health coverage to children in families that earn too much money to qualify for Medicaid.
What did the ACA do for CHIP?
The Affordable Care Act (ACA) extends funding for CHIP through Sept. 30, 2015. At that time, the federal matching rate would increase by 23 percentage points to 94 percent, lowering the average state share of funding to 6 percent. But thats only if Congress extends funding for the program beyond 2015.
How much can I make to get CHIP?
Answer: States have different income eligibility rules, but in most states, children up to age 19 with family income up to $50,000 per year (for a family of four) may qualify for Medicaid or the CHIP. In many states, family income can be even higher and children can still qualify.
Do you have to pay for CHIP insurance?
Routine well child doctor and dental visits are free under CHIP. ... Some states charge a monthly premium for CHIP coverage. The costs are different in each state, but you wont have to pay more than 5% of your familys income for the year.
Will I get penalized if I underestimate my income for ObamaCare?
Its normal for most people to overestimate or underestimate their ACA premium tax credit by a small amount. Theres no added penalty for taking extra subsidies. The difference will be reflected in your tax payment or refund.