Children with parents at or below 200 percent of the federal poverty level may be eligible for the Childrens Health Insurance Program (CHIP). If your child does not qualify for CHIP, then tax credits and cost-sharing reductions may be available at the Health Insurance Marketplace to make coverage affordable for your children. The cost of health insurance depends on how much coverage you choose to purchase and whether you qualify for state and federal programs that provide financial assistance. Many Virginians who have lower incomes will also benefit from lower costs in whatever plan they choose. The Kaiser cost-estimate calculator can help you estimate about how much you will pay per year for insurance coverage and the size of the financial support. These government financial assistance programs are offered on a sliding scale, based on your annual household income. In other words, the higher your income, the lower the amount of your financial assistance.
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