Reply #60: Out-of-pocket expenses: Tax credits also subsidize cost sharing on a sliding scale. [View All]

[JohnWxy]

Tax credits for Out-of-Pocket expenses too.



http://docs.house.gov/energycommerce/AFFORDABILITY.pdf


PREMIUM ASSISTANCE TAX CREDITS
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Tax Credits: Effective 2014, sliding scale tax credits are provided to individuals and families up to 400 percent of poverty that are not otherwise provided coverage through Medicaid, employer sponsored insurance, or other acceptable coverage. That means the credits phase out completely for an individual with $43,320 in income and a family of four with $88,200 in income.
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Limits on Premiums: The sliding‐scale credits limit individual family spending on premiums for the essential benefit package to no more than 2.0 percent of income for those with the lowest income and phasing up to no more than 9.5 percent of income for those at 400 percent of poverty.
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Out‐of‐pocket expenses: The credits also subsidize cost sharing on a sliding‐scale basis, phasing out at 400 percent of poverty, to ensure that covered benefits are accessible when care is needed.