A report released Oct. 6 by the bipartisan, nonprofit (but decidedly pro-access to health care) Families USA predicts much good news for our state when Health Care Premium Tax Credits commence in 2014. The credits, provided on a sliding scale, will target families with annual incomes $29,327-$88,200. Some key predictions from the report:
• 664,100 Tennesseans will be eligible for new tax cuts beginning in 2014 in the form of tax credits to offset a portion of the cost of health insurance premiums; state tax reductions will approximate $2.7 billion that year.
• An estimated 573,200 of those eligible will come from families with a worker employed full-time.
• People with annual incomes at or above 200 percent of the federal poverty level—$44,100 for a family of four in 2010—will make up around 61 percent of those who will be eligible.
• About 293,200 uninsured Tennesseans should be qualified to receive the tax credits; another 370,900 of those who will be eligible are currently insured but struggling to afford coverage.