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The subsidy can be used for any plan available on the exchange, but not catastrophic plans. The subsidy may not exceed the premium for the purchased plan. (In this section, the term "income" refers to modified adjusted gross income. [66] [74]) Small businesses are eligible for a tax credit provided they enroll in the SHOP Marketplace. [75]
In participating states, Medicaid eligibility is expanded; all individuals with income up to 133% of the poverty line qualify for coverage, including adults without dependent children. [82] [88] The law also provides for a 5% "income disregard", making the effective income eligibility limit 138% of the poverty line. [89]
The subsidies for insurance premiums are given to individuals who buy a plan from an exchange and have a household income between 133% and 400% of the poverty line. [38] [44] [45] [46] Section 1401(36B) of PPACA explains that each subsidy will be provided as an advanceable, refundable tax credit [47] and gives a formula for its calculation: [48]
KFF, an independent health policy nonprofit, estimates the subsidies have cut premiums for eligible enrollees by 44%, or $705 annually. The organization says that if the tax credit expires ...
Nearly 1 million additional Americans will have access to ObamaCare subsidies next year under a final rule issued Tuesday by the Biden administration. The rule fixes the so-called family glitch, a ...
The Patient Protection and Affordable Care Act, better known as Obamacare, has a number of complex provisions. But many people see one particular quirk as a complete mistake, and it's one that can ...
[12] [13] Softening the eligibility requirements for Medicaid was a central goal of the ACA, [14] forming a two-pronged policy along with subsidized private insurance via health insurance marketplaces to expand health insurance coverage in the U.S. [15] [7] [3] The Medicaid expansion provision of the ACA allowed states to lower the income ...
The Patient Protection and Affordable Care Act, better known as Obamacare, has brought on a lot of confusion among the millions of Americans seeking health-insurance coverage under the law. With ...