News

17M Americans eligible for Obamacare tax credits

17M Americans eligible for Obamacare tax credits

TAX BREAK: A study shows as many as 17 million Americans will get one to help purchase Obamacare. Photo: Associated Press

(Reuters) – As many as 17 million low- to moderate-income Americans should be eligible for tax credits to buy private health insurance under President Barack Obama’s healthcare law in 2014, according to a report by the Kaiser Family Foundation.

The subsidies are a provision of the law that aims to make U.S. health coverage more affordable. Enrollment in the health plans began on October 1, but has been hobbled by technical problems that have halted access to the federal HealthCare.gov website meant to help people in 36 states verify their eligibility for subsidies and sign up.

The three states with the highest number of individuals who will qualify for the subsidies are Texas, where as many as 2 million people qualify; California, where some 1.9 million people qualify; and Florida, where 1.6 million people qualify, the Kaiser report said. It is based on an analysis of 2012 and 2013 population and economic data from U.S. Census Bureau.

The states with the fewest number of residents to qualify are Vermont, with 27,000 individuals, and the District of Columbia, with 9,000.

Overall, the report estimates, about 29 million people are potential customers for the exchange, including people who currently have no insurance and those who buy private insurance. The number excludes people who would be eligible for the Medicaid program for the poor.

The tax credits are only available for people who apply for coverage through the state-based health insurance marketplace. To qualify, individuals must have incomes of between 100 percent and 400 percent of the federal poverty level, which translates to a range of $23,550 to $94,200 for a family of four.

Those who qualify will be people who are not eligible for coverage from their employer or from Medicaid or Medicare, government insurance programs for the poor and elderly.

Use of the tax credits may vary by state, depending on how well the health insurance websites perform. Fourteen states are running their own online exchanges, and most have been operating more smoothly than HealthCare.gov.

The full report can be found here: at http://www.kff.org/health-reform/issue-brief/state-by-state-estimates-of-the-number-of-people-eligible-for-premium-tax-credits-under-the-affordable-care-act/

Recent Headlines

in Entertainment

See what’s new on Netflix this month

17-overlay6

Are you over fireworks and cookouts? Stay inside and binge on these movies and shows that are now showing on Netflix.

in Entertainment, Sports

Mayweather, Pacquiao, Perry among the ‘best paid’ celebrities

maypac

Musicians and athletes dominate the world's highest-paid celebs, according to the latest rankings.

in Entertainment, National

Celebrate safely with these fireworks tips

Since Independence Day falls during the work week, members of St. Richard Catholic Church celebrated the holiday on Sunday, June 30, 2013, with a picnic-style outing complete with fireworks that could be seen throughout the northeast Jackson, Miss. neighborhood. The long streamers were recorded in a 13-second time exposure. (AP Photo/Rogelio V. Solis)

Don't be one of the thousands of Americans injured by fireworks on July Fourth. Stay safe and have a happy holiday!

in National, Viral Videos

WATCH: The origin of fireworks

17-overlay

The history behind the July Fourth firecrackers that mark our Independence Day celebrations.

in Viral Videos

Miami judge recognizes suspect as middle school classmate

20-overlay

A man charged with burglary is moved to tears when he realizes he went to middle school with the judge assigned to his case.