Study: Obama's health care law will provide tax credits to about half who buy their own insurance
Policyholders that earn too much may pay more
Last Updated: 76 days ago
WASHINGTON - A new study finds that President Barack Obama's health care law would provide federal tax credits next year to offset costs for about half the people who buy their own health insurance.
The Kaiser Family Foundation study says the rest of the individual policyholders earn too much money to be eligible, and could end up paying more.
The study found that 48 percent of families currently buying their own coverage would be eligible for tax credits averaging $5,548 per family, or 66 percent of the average cost of a benchmark policy.
People with individual coverage represent only about 5-6 percent of those with private insurance but that will grow once most uninsured Americans are required to get coverage.
People making between $11,500 and $46,000 for an individual and $23,550 and $94,200 for a family of four -- are eligible for some level of help.
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