The bill — introduced by Rep. Diane Black (R-Tenn.) — would prohibit the government from issuing premium tax credits and reductions in cost-sharing for people buying coverage through the health insurance marketplaces until HHS shows Congress the agency has implemented a system to verify household income and other eligibility requirements for those applying for subsidies.
Premium subsidies — distributed in the form of federal tax credits — will be available for people purchasing their own coverage through the new exchanges who have incomes from 100 percent to 400 percent of the poverty level, which amounts to $24,000 to $94,000 per year for a family of four in 2014.
Among those who currently buy their own health insurance, 48 percent would be eligible for tax credits to offset their premiums on the Patient Protection and Affordable Care Act’s individual insurance market, according to a Kaiser Family Foundation report released last month.
More Articles on Health Insurance Exchanges:
5 Key Facts About PPACA Insurance Exchange Pricing
Bills Seek to End Funding for Congressional Health Insurance
Report: 48% Buying Own Insurance Will Qualify for PPACA Subsidies
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