Thanks, Obamacare! Young Adults Will Benefit Most From Tax Credits

Thanks, Obamacare! Young Adults Will Benefit Most From Tax Credits – Yahoo! News.

But some reassuring news came out last week from FamiliesUSA, a health advocacy group, showing that the majority of people who can receive tax credits to help offset the cost of their new premiums under the law are between the ages of 18 to 34.

Be aware that tax credits (subsidy) has nothing to do with your age but your income.

You definitely won’t be alone if you need a little help paying for your insurance. FamiliesUSA reported that nearly 26 million Americans will be eligible for new premium tax credits in 2014. And those with an annual income between $47,100 and $94,200 (for a family of four; incomes between 200 and 400 percent of the federal poverty level) will make up about 56 percent of those eligible for the tax credits.

To see if you are in the “subsidy range” I’ve added a table for (almost) all family sizes to this blog under the resoures tab.

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