What types of financial assistance are available through Covered California?

Covered California offers two types of financial assistance to help individuals and families afford health insurance. The first type is called premium assistance, which is based on income and household size. It can significantly lower monthly premium costs. The amount of premium assistance varies depending on income level, with lower-income households receiving higher subsidies. The second type of financial assistance is called cost-sharing reductions. It helps reduce out-of-pocket costs such as copayments, deductibles, and coinsurance. This assistance is available to those who qualify based on income and plan selected. Individuals and families with lower incomes may be eligible for enhanced cost-sharing reductions, which provide even greater assistance with out-of-pocket expenses. These financial assistance programs are designed to make health insurance affordable and accessible for all Californians.