![]() Premiums in the calculator vary by age within the three to one limit specified in the law, using age factors from proposed regulations issued by HHS (or, state specific age factors where states have adopted them). The premium is adjusted for family size and age of the user. ![]() Actual premiums may be higher if plans include "non-essential benefits" such as dental or vision care. Premiums shown are the premium portion used for Essential Health Benefits. Not all plans are available in all parts of the county, so actual premiums may vary depending on plan availability. The silver premium is the second-lowest cost silver premium available in the county of the entered zip code and the bronze premium shown is the lowest-cost bronze plan in the county of the entered zip code. Premiums were obtained through data published by HHS, data received directly from state exchanges or insurance departments, and data collected from state-based exchanges by KFF researchers. Premiums displayed in the calculator’s results are based on actual exchange premiums in 2023 dollars. The calculator includes subsidy increases for 2023 in the Inflation Reduction Act. The Health Insurance Marketplace Calculator is based on the Affordable Care Act (ACA) as signed into law in 2010, and subsequent regulations issued by Health and Human Services (HHS) and the Internal Revenue Service (IRS). 31, 2023, to correct the poverty guidelines used when income is entered as a “Percent of Poverty.” 27, 2022, with premiums for 2023 plans, and again on Jan. Even 300 percent of that poverty line, $70,650, falls well below the comfortable threshold proposed by the Economic Policy Institute for Bay Area cities.Editor's Note: This calculator was updated on Oct. Meanwhile, Federal Poverty Guidelines say a family of four is "officially" poor if it brings in less than $23,550 per year. And Boston is right around the same price as San Francisco, at $85,641. Chicago is much cheaper, only requiring $69,028 per year. Are they right? Well, for a family of four, New York is definitely more expensive than San Francisco, coming in at $93,502 annually. San Francisco residents often complain that it's just as expensive to live here as New York or Boston. In San Jose that number is $75,618 and in Oakland it's $70, 978. A single parent in San Francisco needs an annual income of $80,703 to maintain a comfortable lifestyle. Interestingly, the costs for a single-parent family with two children don't differ much from a two-parent household. In San Francisco, about 62 percent of the population rents. The main difference comes from the cost of monthly rent, although there are slight differences in health and child-care costs as well. The numbers are similar, but slightly lower, for San Jose-Sunnyvale at $79,261 and the Oakland-Fremont area at $75,064. ![]() In the Bay Area, there's been a lot of discussion about how feasible it is for families to afford this region.Īccording to the calculator, it costs $84,133 for a family of four to live in San Francisco comfortably. "In all cases, they show families need more than twice the amount of the federal poverty line to get by." "Costs for a single-parent family with two children don't differ much - in San Francisco, that parent needs $80,703 a year." "EPI’s family budgets offer a higher degree of geographic customization and provide a more accurate measure of economic security," the budget calculator website says. The FMR is at the 40th percentile of rent cost, meaning that 40 percent of apartments are rented for less and 60 percent for more. For example, housing data is based on HUD's fair market rent (FMR) determination, which is in turn based on five-year American Communities Survey data. EPI explains the methodology behind each measure. The calculator consists of seven individual components: rent, food, child care, transportation, health care, other items of necessity and taxes. The Economic Policy Institute (EPI), a nonprofit nonpartisan think tank in Washington, DC, has put together a budget calculator to help estimate the income families need to live modestly, but comfortably, in various places. But just how much does it really cost for families to live in various parts of the Bay Area? Then there are the great restaurants that must be tried, the health care necessities that must be paid, child care, transportation - and that all adds up. Rents in San Francisco are notoriously high and rising, trickling out to affect housing costs around the region. (Lorena/Flickr)Īnyone who lives in the Bay Area knows it's not cheap. It costs over $84,000 a year for a family of four to live comfortably, but not extravagantly, in San Francisco, according to the Economic Policy Institute based in Washington, D.C.
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