Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

GoHealthInsurance: Four Facts About Health Reform Premium Tax Subsidies


Print article Print article
© Marketwire 2013
2013-02-13 18:17:02 -

CHICAGO, IL -- (Marketwire) -- 02/13/13 -- GoHealthInsurance : www.gohealthinsurance.com/ , a leading online exchange for individuals and families to compare health insurance quotes, has four facts about the health reform tax subsidies that consumers should know.



"Among the many provisions of the Affordable Care Act taking effect in 2014 is the distribution of premium tax subsidies for individuals and families who qualify," says Mark Colwell, Manager of Consumer Marketing at GoHealth. "It's our goal to help consumers understand the premium tax subsidies and whether or not they can expect one in 2014."





Four facts about the premium tax subsidies:



1. Eligibility requirements
To qualify for a premium subsidy, you must be a U.S. citizen or legal immigrant with an income between 133 and 400 percent of the federal poverty level (FPL) and buy health insurance : www.gohealthinsurance.com/quote.jsp coverage through one of the new health insurance exchanges. As of 2013, 133 percent of the FPL is $15,282 for individuals and $23,550 for a family of four. 400 percent of the FPL is $45,960 for individuals and $94,200 for a family of four.
2. Health care subsidies are provided on a sliding scale
People who make less money will receive more help than those with incomes closer to 400 percent of the federal poverty level. Example: a family of four making $33,075 annually (150 percent of the FPL) will be required to pay 4 percent of their income, or $1,323, on health insurance premiums. In contrast, a family of four with annual income $88,200 (400 percent of the FPL) is expected to pay 9.5 percent of their income on premiums.
3. Subsidies for those with employer-sponsored coverage
The only way that an individual with employer-sponsored coverage will be eligible for a subsidy is if their employer's health insurance benefits are deemed unaffordable by the Affordable Care Act : www.gohealthinsurance.com/health-care-reform-information/ . To be unaffordable, the employer coverage would cause the out-of-pocket cost to the employee to exceed 9.5 percent of their income.
4. Subsidies will be refundable and can be paid in advance
Premium tax credits will be refundable. Therefore, taxpayers who have little or no income tax liability can still take advantage of the benefit. An individual's premium tax credit can be paid to their health insurance company in advance to help cover the cost of premiums.



About GoHealth
GoHealth and its customer-facing website GoHealthInsurance.com is a health insurance technology platform, working with over 100 health insurance companies : www.gohealthinsurance.com/companies and more than 10,000 licensed agents across the United States. Since the company's founding in 2001, the GoHealth platform has helped nearly 30 million Americans shop and compare health insurance quotes.



Add to Digg : digg.com/submit?phase=2&url= www2.marketwire.com/mw/release_html_b1?release_id=985524 Bookmark with del.icio.us : del.icio.us/post?v=4&noui&jump=close&url= www2.marketwire.com/mw/release_html_b1?release_id=985524 Add to Newsvine : www.newsvine.com/_tools/seed&save?u= www2.marketwire.com/mw/release_html_b1?release_id=985524




Media Contact:

Sean O'Connor
Consumer Marketing Media Associate
Email Contact : www2.marketwire.com/mw/emailprcntct?id=E838A8737571A323
(312)784-7089



Press Information:




Contact Person:


Disclaimer: (c) 2014 Market Wire. All of the press releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Market Wire's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com | BidVertiser