Nov 8, 2013
05:33 AM
Connecticut Today

Connecticut Health Care Exchange Enrollment Means Tax Credits for Some

Connecticut Health Care Exchange Enrollment Means Tax Credits for Some

For all those state residents weighing whether to check out the public exchange for health insurance, a Kaiser Family Foundation report says there likely are 109,000 of you eligible for tax credits if you buy through Access Health CT.

Kaiser, a respected non-partisan think tank on health policy, did a state-by-state analysis of people eligible for the tax credits under the Affordable Care Act.

Across the country, they found 17 million people should be able to get these tax credits, which are designed to help low and moderate-income people buy the private insurance plans on the exchange.

The marketplace is run by Access Health CT for state residents where three insurers — Anthem Blue Cross and Blue Shield in Connecticut, ConnectiCare and HealthCT — are offering plans that fall into three categories: Bronze with standard basic benefits; Silver plans with richer benefits; and Gold plans with the most coverage.

Residents who earn between 100 and 400 percent of the federal poverty of the federal poverty level — which is income between $23,550 and $94,200 for a family of four — can get a tax credit to reduce the cost of a premium if they don’t qualify for Medicaid or Medicare and are not offered affordable insurance through their employer.

Connecticut also is one of the states that expanded Medicaid eligibility under the Affordable Care Act to include uninsured residents with up to 138 percent of the federal poverty level.

A calculator on the Access Health CT website will show potential customers how much they can save through tax credits.

Access Health CT recently released figures showing that 7,615 people have enrolled in health plans through the exchange.

A total of 47 percent, or 3,550, qualified for Medicaid, while 53 percent, or 4,065, are now enrolled in private health plans offered by the exchange.

A total of 55 small businesses also bought plans on the exchange, which covers 306 workers.

The total enrolled slightly reduces the 344,000 people in the state estimated to be uninsured.

For more, visit the New Haven Register.

 

Connecticut Health Care Exchange Enrollment Means Tax Credits for Some

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