TAILIEUCHUNG - TREASURY LAYS THE FOUNDATION TO DELIVER TAX CREDITS TO HELP MAKE HEALTH INSURANCE AFFORDABLE FOR MIDDLE-CLASS AMERICANS

We are well on the way to implementing health reform and establishing Affordable Insurance Exchanges – one-stop marketplaces where consumers can choose a private health insurance plan that fits their health needs and have the same kind of insurance choices as members of Congress. Today, the Treasury Department issued proposed regulations implementing the premium tax credit that gives middle-class Americans unprecedented tax benefits to make it easier for them to purchase affordable health insurance | Treasury Lays the Foundation to Deliver Tax Credits to help Make Health insurance Affordable for Middle-Class Americans August 12 2011 We are well on the way to implementing health reform and establishing Affordable Insurance Exchanges - one-stop marketplaces where consumers can choose a private health insurance plan that fits their health needs and have the same kind of insurance choices as members of Congress. Today the Treasury Department issued proposed regulations implementing the premium tax credit that gives middle-class Americans unprecedented tax benefits to make it easier for them to purchase affordable health insurance. The Premium Tax Credit Makes Coverage Affordable. Millions of Americans will be given help to purchase private health coverage through an Affordable Insurance Exchange. To assist in making coverage affordable the level of support is tailored to individuals needs. Provides a Substantial Benefit. The Congressional Budget Office estimates that when the Affordable Care Act is fully phased in individuals receiving premium tax credits will get an average subsidy of over 5 000 per year. Builds on What is Best in the Existing Health Care System. The Affordable Care Act includes crucial safeguards to ensure that the coverage purchased on an Affordable Insurance Exchange with the premium tax credits will supplement - not supersede - existing employer- and government-sponsored health programs including TRICARE . This allows Americans to keep the coverage they have. Key Facts about the Premium Tax Credit Broad Middle-Class Eligibility. The premium tax credit is generally available to individuals and families with incomes between 100 and 400 of the federal poverty level 22 350 - 89 400 for a family of four in 2011 providing a crucial safety net for the middle class. The Congressional Budget Office estimates that when the Affordable Care Act is fully phased in the premium tax credit will help 20 million Americans afford health insurance. Larger Tax .

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