Millions could be unwittingly eligible for ACA tax credits

HHS estimates millions of people purchasing health insurance plans from the federal and state Affordable Care Act healthcare exchanges are missing out on tax credits, according to a Bloomberg report.

About 2.5 million people with individual or family insurance plans outside of the ACA could be eligible for tax subsidies if they bought on the exchanges, the federal government said Tuesday, according to the article. Additionally, HHS said, about 9 million uninsured people may be eligible for subsidies to help them buy plans, according to the report.

Federal officials are pushing for ACA sign-ups before open enrollment for 2017 begins Nov. 1.

The federal government is making this push partly by emphasizing how subsidies can help make insurance more affordable despite rising premiums, according to the report.

Bloomberg reports that subsidies are available to individuals and families who make up to four times the federal poverty level, or about $100,000 for a family of four.

 

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