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Monday, June 30, 2014

Councilman Cushingberry Supports The Affordable Care Act Tax Credit that lowers monthly rates by as much as %800

Health Care in Detroit 
By Richard C. Clement

Did you know the tax credit is still available under the Affordable Care Act?  If your income falls below the limit based on family size, you may qualify for a significant tax credit for health insurance. This credit may have the ability to lower your monthly payment to under $1.00 per month. 



You still have time to sign up for the plan because having health insurance is now the law.  A lot of insurance companies are offering their own version of the Affordable Care Act (ACA) to compete with other insurance companies.  Organizations like Blue Cross, Humana and others offer similar plans because they all will have to comply with the law and, competition is a part of  being in business. 

The Following table is from Health Care Marketplace literature.

Household Size
Income Limit
Alaska
1
$45,960
$57,400
2
$62,040
$77,520
3
$78,120
$97,640
4
$94,200
$117,760
5
$110,000
$137,880
6
$126,360
$158,000

Unfortunately, Michigan Attorney General, Bill Schuette has decided to fight this benefit by joining in on a law suit to eliminate it altogether (Detroit Free Press Article – Click Here). If they are successful, your ACA monthly insurance rate will increase over %800 percent.  For a household of one person, your Bronze Insurance plan will go from $0.38 cents to $312 per month. You can still register for ACA coverage by logging onto www.healthcare.gov and sign up.

Finally, if you support this benefit, you must Vote in August and November for a change in U.S. Congress, State Legislature and, the Michigan Attorney General’s Office.


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