Georgia Navigator Practice Exam

What is a requirement for obtaining APTCs in terms of affordability?

1. Premiums must not exceed 15% of household income

2. Premiums for family coverage must be less than a specific percentage of income

3. Employee's contribution for employee-only coverage must be capped at 9.83%

4. Insurance must cover all medical services without co-pays

The correct answer is: Employee's contribution for employee-only coverage must be capped at 9.83%

The requirement for obtaining Advance Premium Tax Credits (APTCs) related to affordability states that an employee's contribution for employee-only coverage must not exceed a specific percentage of their household income. This percentage is determined each year and takes into account the federal poverty level and the cost of coverage in the marketplace. By capping the contribution at a specific percentage, it ensures that individuals and families are not spending an excessive portion of their income on health insurance premiums, which could lead to financial strain. This is a fundamental aspect of the Affordable Care Act, aimed at making health coverage more accessible and affordable for those who may not have access to affordable employer coverage or other forms of insurance.