Health Insurance Tax Credits: Where Each State Stands on Getting Signed Up
There’s a new way to make health insurance more affordable. The health reform law helps millions bring down the cost of coverage, but many people are unaware and aren’t taking advantage of these new discounts. See how your state ranks – are people missing out? Scroll over your state to see how many people who are eligible for tax credit discounts have actually enrolled. Click on your state to visit our Health Law Helper tool and find out what the Affordable Care Act means for you and your family.
The Affordable Care Act offers subsidies in the form of tax credits to consumers who make between 100% and 400% of the Federal Poverty Level, or between $23,550 and $94,200 for a family of four. Learn more about tax credits and whether you might qualify by visiting HealthTaxCreditTool.org. The Kaiser Family Foundation estimated the number of tax credit eligible people in November of 2013. Enrollment numbers released on May 1, 2014 from the U.S. Department of Health and Human Services show the number of people in each state who have actually enrolled in a health plan using tax credits. We merged these data sets to find the percentage of people eligible for tax credits in each state who have enrolled in the private Marketplace.