No, ACA (Affordable Care Act) premium tax credits, also known as health insurance subsidies, are not exclusively for unemployed individuals. These subsidies are designed to assist individuals and families with low to moderate incomes in affording health insurance coverage, regardless of employment status. In fact, many people who receive ACA subsidies are employed.
The primary criteria for eligibility to receive ACA subsidies are based on household income and family size. The subsidies are available to individuals and families with incomes between 100% and 400% of the federal poverty level (FPL). This means that people who are employed and have incomes within this range may qualify for these subsidies.
Even if you have a job and earn income, you may still qualify for subsidies if your income falls within the eligible range and you don’t have access to affordable, comprehensive health insurance through your employer or other government programs.
It’s important to note that the subsidy amount decreases as your income increases within the specified range, and if your income is above 400% of the FPL, you won’t qualify for premium tax credits.
Ultimately, the ACA subsidies aim to make health insurance coverage more affordable for a broad range of individuals and families, regardless of employment status.