GoHealthInsurance: Four Facts About Health Reform Premium Tax Subsidies
(firmenpresse) - CHICAGO, IL -- (Marketwire) -- 02/13/13 -- , a leading online exchange for individuals and families to compare health insurance quotes, has four facts about the health reform tax subsidies that consumers should know.
"Among the many provisions of the Affordable Care Act taking effect in 2014 is the distribution of premium tax subsidies for individuals and families who qualify," says Mark Colwell, Manager of Consumer Marketing at GoHealth. "It's our goal to help consumers understand the premium tax subsidies and whether or not they can expect one in 2014."
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To qualify for a premium subsidy, you must be a U.S. citizen or legal immigrant with an income between 133 and 400 percent of the federal poverty level (FPL) and buy coverage through one of the new health insurance exchanges. As of 2013, 133 percent of the FPL is $15,282 for individuals and $23,550 for a family of four. 400 percent of the FPL is $45,960 for individuals and $94,200 for a family of four.
People who make less money will receive more help than those with incomes closer to 400 percent of the federal poverty level. Example: a family of four making $33,075 annually (150 percent of the FPL) will be required to pay 4 percent of their income, or $1,323, on health insurance premiums. In contrast, a family of four with annual income $88,200 (400 percent of the FPL) is expected to pay 9.5 percent of their income on premiums.
The only way that an individual with employer-sponsored coverage will be eligible for a subsidy is if their employer's health insurance benefits are deemed unaffordable by the . To be unaffordable, the employer coverage would cause the out-of-pocket cost to the employee to exceed 9.5 percent of their income.
Premium tax credits will be refundable. Therefore, taxpayers who have little or no income tax liability can still take advantage of the benefit. An individual's premium tax credit can be paid to their health insurance company in advance to help cover the cost of premiums.
GoHealth and its customer-facing website GoHealthInsurance.com is a health insurance technology platform, working with over 100 and more than 10,000 licensed agents across the United States. Since the company's founding in 2001, the GoHealth platform has helped nearly 30 million Americans shop and compare health insurance quotes.
Media Contact:
Sean O'Connor
Consumer Marketing Media Associate
(312)784-7089
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Datum: 13.02.2013 - 17:11 Uhr
Sprache: Deutsch
News-ID 229214
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