Affordable Care Act – Affordable Health Insurance in New Jersey

Affordable Care Act – Affordable Health Insurance in New Jersey

obamacare nj

The Affordable Care Act has been a blessing to many New Jerseyans, providing access to low-cost health coverage. If you don’t have coverage through your work-sponsored plan or government programs, you may qualify for subsidies through New Jersey’s state health insurance exchange.

Under the Affordable Care Act (ACA), insurers are required to offer plans that are both affordable and high-quality. Yet prices have not gone down for most Americans–even those eligible for subsidies.


The cost of Obamacare NJ can vary significantly based on your plan and location. On average, premiums range from $328 to $482 per month before federal subsidies are applied.

New Jersey launched a state-run health insurance exchange in 2020, powered by the Affordable Care Act. Under this program, residents who qualify can access financial assistance through premium tax credits, cost sharing reductions and New Jersey Health Plan Savings–a state subsidy–through these exchanges.

On the exchange, five insurers offer individual plans: AmeriHealth, Horizon Blue Cross Blue Shield of New Jersey, Oscar, WellCare and Aetna.

Most people pay around 40% of the cost for covered services, with any remaining portion covered by deductibles or copays. When comparing insurance plans, these deductibles and copays should be taken into account as important components to consider.


New Jersey’s health insurance market is heavily regulated by the Affordable Care Act (ACA). This law requires all residents to have minimum essential coverage or face a penalty.

Which plan is best for you depends on your health requirements and budget. Typically, Silver plans offer the lowest premiums while Gold ones have higher monthly rates but may be more cost-effective if you use your insurance frequently.

In addition to federal financial assistance, some New Jerseyans may qualify for state subsidies known as New Jersey Health Plan Savings. These savings are available in 2023 to individuals earning up to $81,540 and families of four with incomes up to $166,500.

Open enrollment for healthcare in New Jersey takes place annually from November 1 to January 31. During this time, you can enroll in a GetCoveredNJ plan or switch your coverage. Special enrollment periods are also available if you experience a qualifying life event or your eligibility changes outside the regular open enrollment period.


The Affordable Care Act (ACA) offers various subsidies to assist residents in affording health insurance. These include premium tax credits, cost-sharing reductions and New Jersey Health Plan Savings–a state subsidy program.

Consumers can determine if they qualify for any of these subsidies by using the Get Covered NJ Shop and Compare Tool or filling out an application. Even those without financial assistance from their employer may still qualify for Medicaid, a government program for low-income residents.

In 2018, lawmakers passed two bills to increase financial assistance and make it simpler for people to obtain healthcare coverage. Furthermore, they implemented a reinsurance program with the purpose of decreasing rates in the individual market – leading to an average reduction in premiums of nearly nine percent.


Enrolling in Obamacare New Jersey is a necessary step to protect yourself from high medical bills. The state-run exchange, Get Covered New Jersey, offers various plan options to choose from.

Before enrolling, it’s essential to become informed about the various plan types and their advantages. Plus, our website features a personalized “Shop and Compare” tool that estimates how much you could save by selecting another plan type or insurance company.

Furthermore, many Americans have saved hundreds of dollars on their monthly premiums thanks to government subsidies such as Obamacare tax credits. These credits are provided in order to enable those with lower incomes to purchase health insurance coverage.

In 2021, New Jersey expanded the number of households eligible for federal financial aids. Previously, residents had to earn a certain amount to be eligible for these premium tax credits. The 2021 American Rescue Plan has increased these credits, enabling more families and single people to access these subsidies.

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About the Author: Raymond Donovan