Working Californians Eligible For Tax Credits To Buy Health Insurance Next Year
Tuesday, April 9, 2013
If you make between $47,000 and $94,000 a year, you may be eligible for a federal subsidy to buy health insurance beginning in 2014.
SAN DIEGO If you make between $47,000 and $94,000 a year, you may be eligible for a federal subsidy to buy health insurance beginning in 2014.
More than 237,000 San Diegans will be eligible for federal subsidies to buy health insurance next year. The non-profit advocacy group Families USA has spelled out what that assistance will look like under Obamacare.
Under the Affordable Care Act, families of four that make up to $94,000 a year will be eligible for federal tax credits to buy insurance.
Families USA executive director Ron Pollack said the tax credits will be provided on a sliding scale.
"And what that means is those people who need the greatest help, will receive the greatest help. They will get the larger tax credit subsidies," Pollack said.
The subsidies will be paid directly to the insurers. That will minimize the amount people will have to shell out.
The ultimate costs of the plans will determine the size of the subsidies. The price of premiums will be announced later this year.
Statewide, beginning in 2014, nearly 3 million Californians will be eligible for tax credits to purchase health insurance.