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Tue April 16, 2013
Report: More Than 96,000 In N.H. Eligible For Health Insurance Tax Credits
A report out today estimates that 96,000 New Hampshire residents will be eligible for health insurance tax credits under the Affordable Care Act. The credits will be available starting in January, 2014, when the individual mandate kicks in.
The credits are intended to help low-to-moderate income Americans afford health insurance. A family of four earning up to 400% of the poverty line--roughly $94,000--will be eligible for some level of subsidy.
Only consumers who purchase insurance through the new health exchange marketplaces can access the credits, which are paid for by the Federal government.
The non-partisan Families USA commissioned the report. The group does support the Affordable Care Act.
Its estimate of 96,000 recipients is based on one key assumption: that the state will expand its Medicaid program. If the state chooses not to expand, those earning less than 100% of the poverty line in New Hampshire will not receive subsidies. That’s a result of the Supreme Court ruling last summer which said states must have a choice concerning Medicaid expansion.