premium tax credits

Twelve Days of Coverage

Posted December 20, 2016 by CHIR Faculty

Despite the gloom and doom surrounding the Affordable Care Act (ACA), when we look back at what the ACA has achieved, there is cause to celebrate this holiday season. Six years after President Barack Obama signed the ACA into law, we have the lowest uninsured rate and record enrollment numbers on Healthcare.Gov, showing just how much people need and want comprehensive health insurance. As we hum along to our favorite holiday hits, CHIR has composed a new carol to pay homage to the monumental health care law that has led to unprecedented coverage and consumer protections. Happy holidays!

Low-Income Households and ACA Tax Policies: Benefit from Tax Credits but Paying the Penalty

Posted October 11, 2016 by CHIR Faculty

We are well into the third tax year of ACA premium tax credits and the individual shared responsibility requirement. The IRS recently released a report on 2014 income tax filings that includes data on the first year of the PTC and ISRP. We analyzed this data to look at the tax credits and payments by income brackets and found that millions of low-income tax filers benefited from the PTC in 2014 – but millions of low-income tax filers also paid the ISRP, indicating that a very vulnerable population still lacks coverage.

HHS Study Shows Benefits of Shopping and Subsidies, but Costs Still a Concern

Posted April 18, 2016 by CHIR Faculty

With health insurers’ rate filings looming on the horizon, many are concerned we’ll see proposed premium increases for 2017. But a report released last week demonstrates that, behind the headlines, consumers are likely to see more affordable premiums after they’ve shopped for the best deal. At the same time, another study shows that consumers’ out-of-pocket costs for health services are steadily rising. Sean Miskell has the details.

Tax-related Information for Marketplace Consumers

Posted February 9, 2016 by CHIR Faculty

While Old Man Winter barrels down on us with cold and snow, what better time to get your documents together for tax filing season? For marketplace consumers, you’ll need a couple of documents to file your tax return. CHIR’s Sandy Ahn provides some information on what you’ll need.

Wondering What Marketplace Rate Increases Mean for Consumers?

Posted October 27, 2015 by CHIR Faculty

The third open enrollment season for the Affordable Care Act’s health insurance marketplaces begins on Sunday, November 1. The administration has released new data showing average health plan rate changes, with an average increase nationwide of 7.5 percent compared to 2015. Our colleague Tricia Brooks breaks down what these rate changes mean for consumers.

Year One for the Shared Responsibility Payment: Taking a Closer Look at the Affordability Exemption

Posted February 23, 2015 by JoAnn Volk

The current tax filing season, for the 2014 tax year, is the first in which consumers will need to indicate whether or not they had coverage in 2014, or face a potential tax penalty for failure to have coverage throughout the year. JoAnn Volk takes a look at the affordability exemption and what consumers need to know.

Getting MAGI Right: Current Monthly Income Vs. Projected Annual Income

Posted February 11, 2015 by CHIR Faculty

Under the Affordable Care Act, new rules for counting household size and income for purposes of Medicaid and CHIP eligibility were aligned with the calculation of Marketplace subsidies. Following up on a primer she drafted on the basics of MAGI, our colleague at Georgetown’s Center for Children and Families, Tricia Brooks, drills down on income eligibility for Medicaid, CHIP, and premium tax credits.

New “Halbig Provision” in Health Plan Agreements Poses Little Threat to Consumers

Posted October 27, 2014 by Justin Giovannelli

Insurers that sell coverage through the ACA’s federally facilitated marketplaces must sign a privacy and security agreement with the federal government. New language gives insurers greater flexibility to end that agreement if premium tax credits cease to be available to marketplace enrollees. Justin Giovannelli explores the significance of this development for consumers.

Do Nothing to Renew or Get an Updated Eligibility Determination? CMS Puts out Final Marketplace Renewal Rules

Posted September 7, 2014 by CHIR Faculty

Last week the federal Centers for Medicare and Medicaid Services (CMS) published final rules for the health insurance marketplaces and participating insurers to renew consumers into coverage for 2015. Our colleague from Georgetown’s Center for Children and Families, Tricia Brooks, discusses what the rule means for consumers and their families.

After Halbig: Considerations for States Revisiting the Option to Establish a State-Based Marketplace

Posted August 14, 2014 by CHIR Faculty

A federal appeals court’s ruling that premium subsidies aren’t available for consumers who purchase health coverage through one of the ACA’s federally run insurance marketplaces could have drastic consequences. But policymakers in the 34 states with a federal marketplace have options for protecting their residents. In one of CHIR’s blogs for the Commonwealth Fund, Kevin Lucia and Justin Giovannelli discuss those options here.