Some applicants may qualify for a government subsidized medical insurance plan. Such plans are offered through the Health Insurance Marketplace provided by the federal government. You can apply for government subsidized insurance to help take some financial strain off your shoulders, provided you meet eligibility requirements.

Those requirements include producing proof of household income. If your income is too high, you may not receive subsidized medical coverage. The benchmark for determining eligibility is currently 400 percent of the poverty level established by the federal government.

A government subsidy is economic assistance provided by the government to citizens. You may qualify for subsidized medical insurance under certain circumstances.

Some subsidized medical insurance coverage is provided at low cost. It is also possible to qualify for completely free subsidized medical insurance, depending on your circumstances.

Several factors may influence your eligibility for a government health insurance subsidy or for a certain type of subsidized assistance, such as totally free coverage. You need a clear understanding of those factors to determine the level of assistance for which you may qualify.

Here are some examples:

• When your income is at or below the established poverty level, you typically do not need subsidized assistance. Instead, you can apply directly for Medicaid coverage. However, if your income level is between the current poverty level and 400 percent of that level, you might qualify for a discounted subsidized insurance rate.

• If you are already a Medicare Part A recipient and coverage is provided to you for free, you cannot get subsidized assistance. If you are enrolled in Medicare but still pay monthly premiums, you may typically apply for subsidy assistance. However, you may also have to meet other requirements for application approval.

• You cannot get a government subsidy if you are already getting employer-offered insurance at an affordable rate. The government considers 9.83 percent of your household income an affordable rate. If your healthcare premium costs surpass that percentage of your household income, you can apply for subsidized health insurance assistance.

Qualifying for assistance is one half of the process. The government must also determine that amount of assistance to provide.

The amount for which you are eligible is based on your household size and income level, primarily.

However, individual plans vary, and location is also sometimes a factor. States with higher healthcare costs include Alaska and Hawaii.

Regardless of those factors, the most you are required to pay for health insurance is 9.83 percent of the household income level.

You may not qualify for government assistance. The next slide explains another affordable health insurance alternative, which is signing up for a short-term plan.