Affordable Care Act Fact of the Day – Making Care More Affordable

Beginning January 1, 2014, tax credits to make it easier for the middle class to afford insurance will become available for people with incomes between 100% and 400% of the poverty line who are not eligible for other affordable coverage. (In 2010, 400% of the poverty line comes out to be about $43,000 for an individual or $88,000 for a family of four.)

The tax credit is advanceable, so it can lower your premium payments each month, rather than making you wait for tax time. Its’ also refundable, so even moderate-income families can receive the full benefit of the credit.  These individuals may also qualify for reduced cost-sharing (co-payments, co-insurance, and deductibles).