What role does income play in applying for health insurance through GCI?

Income plays a crucial role in applying for health insurance through Get Covered Illinois (GCI) because it determines eligibility for subsidies and the level of coverage available to individuals and families. The Affordable Care Act (ACA) established parameters for income that align with federal poverty levels, which directly influence the financial assistance applicants can receive to lower their insurance premiums and out-of-pocket costs.

When individuals or families provide their income information on their GCI application, this data is used to assess their eligibility for various programs, including Medicaid and the Children’s Health Insurance Program (CHIP). Additionally, those whose income falls within specified ranges may qualify for premium tax credits, which significantly reduce the cost of purchasing health insurance through the marketplace.

The choices that suggest income does not matter, is relevant only to children, or is primarily for tax purposes do not accurately represent the comprehensive role of income in GCI applications. Understanding income’s impact is essential for beneficiaries to make informed decisions about their health coverage options and to access affordability programs designed to help them secure necessary healthcare.