by Matthew Valeta, Health Policy Fellow
There are approximately 800,000 Coloradans that go without health insurance largely because of the costs. Fortunately, Obamacare is about to make a major dent in this number. According to a recent report from the health care consumer organization Families USA, 466,000 Coloradans will be eligible for premium tax credits that will help them pay for health insurance. Coloradans between 100 percent and 400 percent of the federal poverty line will be eligible to receive health care tax credits if they purchase insurance from Colorado new health care exchange marketplace, Connect for Health Colorado. These subsidies are available as soon as you purchase health insurance and go directly to your insurer.
Here is a break down of how much assistance Coloradans could qualify for based on their incomes.
According to Families USA Executive Director Ron Pollack, “The tax credit subsidies are a game-changer: They will make health coverage affordable for huge numbers of uninsured families who would have been priced out of the health coverage and care they need.”
You can check out exactly how much in subsidies you may qualify from the Kaiser Foundations tax subsidy calculator.
Read the report for yourself here.