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The percentage is based on the percent of federal poverty level (FPL) for the household, and varies slightly from year to year. In 2019, it ranged from 2.08% of income (100%-133% FPL) to 9.86% of income (300%-400% FPL). [68] The subsidy can be used for any plan available on the exchange, but not catastrophic plans.
In participating states, Medicaid eligibility is expanded; all individuals with income up to 133% of the poverty line qualify for coverage, including adults without dependent children. [82] [88] The law also provides for a 5% "income disregard", making the effective income eligibility limit 138% of the poverty line. [89]
The law includes a large number of health-related provisions, most of which took effect in 2014, including expanding Medicaid eligibility for people making up to 133% of FPL, [319] subsidizing insurance premiums for individuals and families making up to 400% of FPL and capping expenses from 2% to 9.8% of annual income.
In the United States, Medicaid is a government program that provides health insurance for adults and children with limited income and resources. The program is partially funded and primarily managed by state governments, which also have wide latitude in determining eligibility and benefits, but the federal government sets baseline standards for state Medicaid programs and provides a ...
The plan would cut the corporate tax rate from 35 percent to 20 percent; allow companies to immediately deduct their capital investments; phase out the taxation of U.S. corporate income earned abroad; cut the capital-gains tax rate for individuals from 23.8 percent to 20 percent; eliminate the alternative minimum tax and federal estate tax ...
Biden has called for an expansion of Social Security, including by increasing payments to the oldest Americans (persons who have been receiving retirement benefits for at least 20 years); setting a minimum guaranteed benefit (equal to at least 125% of the federal poverty level) for all Americans with at least 30 years of work; and increasing ...
[161] [164] [166] Carson specifically proposed a 14.9% flat tax on both personal and business income, applying to income above 150 percent of the federal poverty level. Citizens whose income is at or below that level would be required to make an annual de minimis tax payment.
A May 2015 educational reform law expanded school choice options to 450,000 Nevada students who are at up to 185% of the federal poverty level. Education savings accounts (ESAs) are enabled by the new law to help pay the tuition for private schools. Alternatively, families "can use funds in these accounts to also pay for textbooks and tutoring".