KFF February 18, 2021
Daniel McDermott, Cynthia Cox, Krutika Amin

The Affordable Care Act (ACA) made premium tax credits available to people purchasing health coverage on the Marketplaces, but generally only when their incomes fall between 100% and 400% of the federal poverty level. These subsidies work by capping what an enrollee must spend on a silver benchmark plan premium at no more than a certain percentage of the enrollee’s household income. The premium tax credit amount equals the difference between the actual benchmark plan premium for that individual and the required contribution. The tax credit can be applied to any metal level plan.

However, a sharp cliff exists at 400% of the poverty level. Under current law, a 60-year-old making $50,000 per year (392% of poverty) pays no more...

Today's Sponsors

LEK
ZeOmega

Today's Sponsor

LEK

Continue Reading

 
Topics: ACA (Affordable Care Act), Congress / White House, Govt Agencies, Healthcare System, Insurance, Medicaid, Patient / Consumer, Payer, Public Exchange, Public Health / COVID, Regulations
Related Articles:
After slow start, ACA enrollment takes off
CMS says record 16.6 million have signed up for Jan. 1 Marketplace coverage
Federal ACA Marketplace Enrollment Lagging
CMS extends ACA enrollment deadline
Centene lobbies Trump administration to preserve Medicaid, ACA following ‘tragic’ year

Share This Article