Tax pro explains how the ACA’s credits and subsidies will work

Tax credits for the purchase of health insurance are available to people whose employers do not offer comprehensive policies deemed affordable under the law and whose household income amounts to less than 400% of the federal poverty level. Tax expert and former IRS official Cathy Livingston explains how eligibility and maximum premium subsidies will be determined, options for taking the credits, information that must be reported to the IRS, and rules regarding overpayments. Livingston says it’s especially important for consumers to retain records as they learn the ropes. Kaiser Health News (7/24)

Last Updated 09/16/2020

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