26 million eligible for ACA subsidies in 2014
NEWS IN BRIEF — Posted May 6, 2013
Twenty-six million Americans from various income brackets will be eligible to receive federal premium tax credits to help them buy insurance starting in 2014, according to a report from consumer advocacy group Families USA.
The subsidies, created by the Affordable Care Act, will be offered on a sliding scale based on a person’s income. Individuals will be able to use these tax credits to buy health coverage on the ACA’s insurance exchanges or marketplaces.
More than half of those eligible for the subsidies will have incomes between 200% and 400% of federal poverty, the report stated. Nearly 60% will be white non-Hispanic, and 23% will be Hispanic. About 11% will be black, and 8% will represent other races, such as American Indian. Many will be in working families.
“The tax credits are a game-changer,” said Ron Pollack, Families USA’s executive director. “They will make health coverage affordable for huge numbers of uninsured families who would have been priced out of the health coverage and care they need.”