A new Kaiser Family Foundation study came out this week showing the State-by-State Estimates of the Number of People Eligible for Premium Tax Credits Under the Affordable Care Act. How's Wisconsin measuring up?
- 301,000 Wisconsinites will be eligible for a tax credit on the marketplace - Healthcare.gov
- 482,000 - the potential market for who may purchase coverage on the marketplace
That means that more than 3 out of 5 people in Wisconsin will have eligible for premium subsidy (tax credit) monthly to reduce the cost of health coverage. Hundreds of thousands of people in our state will now have access to new health insurance options that will provide better coverage than they have access to now.
Who are these individuals? People eligible for tax credits must
- be between 100% to 400% of the federal poverty line - between $11,490 to $45,960 for an individual or between $23,550 to $94,200 for a family of four
- Cannot have access to employer coverage, or the employer coverage available is not affordable
- Is a citizen or a documented immigrant
The amount of tax credit that a person receives depends on their family income and the cost of health insurance where they live.
Want to get an idea of what your tax credit might be? Check out the Kaiser Premium Subsidy Calculator.