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The Affordable Care Act (ACA) [1] is divided into 10 titles [2] and contains provisions that became effective immediately, 90 days after enactment, and six months after enactment, as well as provisions phased in through to 2020. [3] [4] Below are some of the key provisions of the ACA.
In 2014 the payment amount was 1% of income or $95 per adult ($47.50 per child) limited to a family maximum of $285 (national average premium for a bronze plan), whichever is greater. [4] In 2015 the penalty increased to $285 per adult or 2% of income above the limit. [5]
2.6 million were in the "coverage gap" due to the 19 states that chose not to expand the Medicaid program under the ACA/Obamacare, meaning their income was above the Medicaid eligibility limit but below the threshold for subsidies on the ACA exchanges (~44% to 100% of the federal poverty level or FPL); 5.4 million were undocumented immigrants;
Under the ACA, only those households earning between 100% and 400% of the federal poverty level (FPL) are eligible to receive the PTC; however, the American Rescue Plan Act of 2021 temporarily extended PTC eligibility to anyone making more than 100% of the FPL, and the Inflation Reduction Act extended that eligibility expansion through 2025. In ...
Americans with incomes over 400% of poverty — those who make just above four times the poverty level, or $103,280 for a family of four — are eligible for the enhanced ACA insurance subsidies.
Yahoo Finance reporter Adriana Belmonte explains why health insurance deductibles and premiums are eating up a larger share of U.S. households' incomes.