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The Obamacare system in Kentucky is known as Kynect. Kentucky, as well as about another dozen states decided to open its own exchange and not rely on the Federal Exchange. The current open enrollment period began on Nov 1, 2015 and will continue through Jan 31, 2016. If you miss the deadline you may still be able to apply if you meet certain criterion.
Kentucky Kynect Plans – 4 Plans
Like most states four plans are available in Kentucky. The Bronze, Silver, Gold, and Platinum. Generally, the cheaper plans will be the Bronze and Silver. But you will also receive less benefits with those plans. On the other hand the benefits included and coverage will be greater with the Gold and Platinum plans and so will be the premiums.
Kynect & Financial Aid
When you qualify for Kynect financial aid you will have the option to either lower the bill (premium you need to pay) or be used as a refund on your taxes. This is also known as APTC, Advanced Premium Tax Credit. The amount you will qualify for will depend on the family size and family income. Other ways you may qualify will include if your employer does not offer health insurance, you do not receive medicare, or you had a lower income level. For example if you have a family of 5 and made less than $111,640 of annual income you should qualify for some benefits. The less income you have for any give number of family members the more aid you will qualify for.