Under Obamacare, Nearly Half of Americans Could Receive Tax Credits
(WASHINGTON) -- A new study by the Kaiser Foundation says that half of Americans who purchase their own health insurance could face higher premiums next year under President Barack Obama's health care law.
The report from the Kaiser Foundation says that approximately 48 percent of those who currently have individual market coverage would be eligible for tax credits next year. The credits would average $5,548 per family.
The tax credits, intended to assist families in adjusting to higher premiums would only be available to those who buy their insurance in the new marketplaces, don't have access to other affordable coverage and make between 100 and 400 percent of the federal poverty level.
Many Americans who are not currently insured would also be eligible for larger tax credits due to their, on average, lower income.
New insurance policies are expected to cost more due to a wider range of services.
Copyright 2013 ABC News Radio