TAILIEUCHUNG - Lower Taxes, Lower Premiums - The New Health Insurance Tax Credit

Review your protection order to make sure that it contains the relief that the judge granted. If something is missing or incorrect, bring it to the attention of the court before leaving or having copies made. • Get certified copies of your protection order and carry at least one copy with you at all times. The court must provide free copies. • Provide copies of the protection order to any law enforcement agency that you may ask to enforce your protection order, to your employer, friends and relatives, to your child’s school or day care facility, and to other people as appropriate. • Obtain information (written or oral) regarding. | Lower Taxes Lower Premiums The New Health Insurance Tax Credit Families USA Lower Taxes Lower Premiums The New Health Insurance Tax Credit September 2010 by Families USA Foundation Families USA 1201 New York Avenue NW Suite 1100 Washington DC 20005 Phone 202-628-3030 Fax 202-347-2417 Email info@ This publication is available online at . Cover Design Nancy Magill Families USA The New Health Insurance Tax Credit Introduction The Patient Protection and Affordable Care Act Affordable Care Act enacted in March 2010 will extend health coverage to millions of Americans by expanding Medicaid to those with the lowest incomes and by creating a tax cut to help low- and middle-income individuals and families afford private coverage. These tax cuts will be provided in the form of new refundable tax credits that will offset a portion of the cost of health insurance premiums. This report takes a closer look at these premium tax credits which will go into effect in 2014 and will help Americans with incomes up to four times the federal poverty level 88 200 for a family of four in 2010 afford coverage. The unique structure of the tax credits means that individuals and families will have to spend no more than a specified portion of their income on health insurance premiums. Families USA commissioned The Lewin Group to use its economic models to estimate how many individuals would benefit from the new premium tax credits in 2014 and the value of the dollars going to help pay for insurance see the Methodology on page 12 for more details . We found that an estimated million Americans will be eligible for the tax credits in 2014 and that the total value of the tax credits that year will be billion. The new tax credits will provide much-needed assistance to insured individuals and families who struggle harder each year to pay rising premiums as well as to uninsured individuals and families who need help purchasing coverage that otherwise would

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