Report shows who's eligible for Obamacare tax incentives - FOX13 News, WHBQ FOX 13

Report shows who's eligible for Obamacare tax incentives

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MEMPHIS, Tenn. (FOX13) -

Hundreds of thousands of in Tennessee, Mississippi, and Arkansas are eligible for tax incentives to help pay for health insurance under the Affordable Care Act a new report released Tuesday.

Getting more people health insurance coverage is a key goal of the ACA and tax credits for buying coverage in the health exchange marketplace is one of the ways the law's architects plan to accomplish that goal.

DOWNLOAD: Read the Kaiser Family Foundation report

A new report published Tuesday by the Kaiser Family Foundation, a healthcare policy research non-profit, gives a state-by-state look at who is eligible for those tax breaks.

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They found more than 17 million Americans across the country will be able to get these tax credits.

In Tennessee the foundation estimates 387,000 can take advantage of tax incentives. That's 60 percent of the 645,000 forecast to use the exchange to purchase health insurance.
 
An even higher percentage of people are eligible in Mississippi. About 68 percent of the 298,000 are expected to buy insurance in the exchange are eligible for tax credits.

In Arkansas 227,000 are expected to shop in the health exchanges; 150,000 of them eligible for tax incentives.

The Affordable Care Act's tax incentives target those with low to moderate incomes. People with annual income from 100 percent to 400 percent of the federal poverty level could qualify.

U.S. Congressman Steve Cohen (D-Memphis) said the incentives will help many people afford coverage.

"Really the idea of the affordability is that the people that cannot afford it right now, who don't have it, and this is the way of making it affordable through tax credits and or fix to Medicaid," Rep. Cohen said.

But so far in Tennessee Gov. Bill Haslam has turned down the Medicaid expansion portion of the ACA. Rep. Cohen said the Healthcare.gov website will guide people through the process, but the website has been plagued with problems since the launch last month. Rep. Cohen said those should be fixed by the end of the month.

There are also people in the community working to help people without Internet access figure out their options. Congressman Cohen and Memphis Mayor A C Wharton have been working to get the word and official health insurance navigators are available.

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