Estimated 26 Million Americans To Qualify For New Health Care Tax Credit

Nearly 26 million Americans will qualify in 2014 for the federal health care tax credit under the Patient Protection and Affordable Care Act of 2010 (PPACA) to subsidize some or nearly all of the cost of health care insurance premiums for individuals earning between 138% and 400% of the federal poverty line (FPL) who purchase an individual or family health insurance plan through a state health insurance marketplace. Some people with incomes below 138% FPL who do not qualify for Medicaid will be eligible for tax credits as well. The Congressional Budget Office projected in May 2013 that for the . . .