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The subsidy is reduced by 3.35 percentage points per additional employee and 2 percentage points per additional $1,000 of average compensation. As an example, a 16 FTE firm with a $35,000 average salary would be entitled to a 10% premium subsidy. [113]
The subsidies for insurance premiums are given to individuals who buy a plan from an exchange and have a household income between 133% and 400% of the poverty line. [38] [44] [45] [46] Section 1401(36B) of PPACA explains that each subsidy will be provided as an advanceable, refundable tax credit [47] and gives a formula for its calculation: [48]
The eligibility criteria for the premium tax credit is determined by section 1401 of the Affordable Care Act (Obamacare). The Act was signed into law on March 23, 2010, and specified that the credits are only available to individuals and families who have enrolled in a health plan offered on a healthcare exchange.
But there’s at least one key reason to think that this time will turn out differently: A major expansion of the Affordable Care Act’s insurance subsidies passed by the Biden administration is ...
The beefed-up Obamacare subsidies have allowed four out of five consumers to find plans for $10 or less a month. Enrollees save an average of $800 a year on their premiums.
Democrats in the House and Senate reintroduced legislation Thursday to permanently extend enhanced subsidies to help people afford insurance premiums on ObamaCare plans. Led by Sens. Jeanne ...
(About 45% were unsure whether "repeal of Obamacare" also meant "repeal of the Affordable Care Act".) 39% did not know that "many people would lose coverage through Medicaid or subsidies for private health insurance if the ACA were repealed and no replacement enacted", with Democrats far more likely (79%) to know that fact than Republicans (47% ...
The Patient Protection and Affordable Care Act, better known as Obamacare, has brought on a lot of confusion among the millions of Americans seeking health-insurance coverage under the law. With ...