A measure of income published every year by the U.S. Department of Health and Human Services (HHS) and calculated based on household size. Federal poverty levels are used to determine eligibility for certain programs and benefits, including eligibility for premium tax credits through Virginia's Insurance Marketplace, as well as eligibility for Medicaid and the Family Access to Medical Insurance Security Plan (FAMIS).
Virginia's Insurance Marketplace will use the 2024 federal poverty level guidelines, as listed below, to calculate eligibility for savings for individuals enrolling in 2024 coverage through Virginia's Insurance Marketplace.
2023 Federal Poverty Level based on income and household size:
|
Household / Family Size |
2022 Income | 2023 Income |
|
Single |
$13,590 |
$14,580 |
|
2-person |
$18,310 |
$19,720 |
|
3-person |
$23,030 |
$24,860 |
|
4-person |
$27,750 |
$30,000 |
|
5-person |
$32,470 |
$35,140 |
|
6-person |
$37,190 |
$40,280 |
|
7-person |
$41,910 |
$45,420 |
|
8-person |
$46,630 |
$50,560 |
|
9-person |
Add $4,720 for each extra person |
Add $5,140 for each extra person |
How federal poverty levels are used to determine eligibility for reduced-cost health coverage
- Income above 400% FPL: If your income is above 400% FPL, you may now qualify for premium tax credits that lower your monthly premium for a 2024 Marketplace health insurance plan.
- Income between 100% and 400% FPL: If your income is in this range, in all states you qualify for premium tax credits that lower your monthly premium for a Marketplace health insurance plan.
- Income at or below 150% FPL: If your income falls at or below 150% FPL in your state and you’re not eligible for Medicaid or CHIP, you may qualify to enroll in or change Marketplace coverage through a Special Enrollment Period.
- Income below 138% FPL: If your income is below 138% FPL and your state has expanded Medicaid coverage, you qualify for Medicaid based only on your income.
- Income below 100% FPL: If your income falls below 100% FPL, you probably won’t qualify for savings on a Marketplace health insurance plan or for income-based Medicaid.