Posted on December 13, 2011 |
With continued high unemployment causing increased numbers of women to lose health insurance coverage, policy makers should be trying to help people afford insurance. They should ensure that someone doesn’t have to stop medical treatment because she lost her job. They shouldn’t make it more difficult to access health coverage – but that is just what H.R. 3630 (introduced by Rep. Dave Camp, R-MI), a bill up for a vote in the House today, does.
Reduce Financial Protections for Low- and Moderate-Income Americans who Receive Tax Credits under the Affordable Care Act
In 2014, the Affordable Care Act will provide tax credits to help individuals and families purchase coverage through a health insurance exchange. Advance payments of the tax credits to help pay for insurance premiums (“premium tax credits”) will be paid directly to the insurance company based on information on household size and income provided to the insurance exchange. Credits will be available on a sliding scale to help people with household income under 400 percent of the federal poverty level (about $88,000 for a family of four in 2011).
Actual income will often be different than income projected when a family enrolls in coverage. People get married or divorced. People lose jobs or get new jobs. Some people work fewer hours than they expected. Other people get promotions or bonuses. Sometimes an unexpected cost arises – perhaps a large medical bill – that requires a person to take a second job. Read more »