New rules fix 'flaw' for families seeking Obamacare coverage
More families who are offered expensive health insurance premiums from their employers will get a discount if they sign up instead for coverage through the Affordable Care Act marketplace this fall
WASHINGTON (AP) — Families who get expensive health insurance through employers could see a price break if they sign up instead for coverage through the Affordable Care Act marketplace this fall.
The Treasury Department announced new rules that determine the tax breaks for certain families when they buy private health insurance plans through the Affordable Care Act.
The new interpretation of the Obama-era health law aims to fix the “ family glitch, ” which determines a family’s eligibility for ACA tax credits on the cost of an individual’s work-sponsored health insurance plan rather than the cost of the plan for the whole family.
Since the law was enacted more than a decade ago, people who have access to health insurance plans through their employers are supposed to get price breaks on the Affordable Care Act marketplace if they pay more than 9.5% of their income toward monthly premiums.
