Beginning in 2014, nearly 1.1 million Ohioans will be eligible for tax credits to offset some of their health insurance costs, according to a report from a liberal advocacy group.
The tax credits are intended for both uninsured and insured people who’d otherwise have a difficult time affording insurance, according to the report (pdf) from Families USA, which bills itself as “the voice for healthcare consumers.”
Families with household incomes of up to four times the federal poverty level — which comes out to about $88,000 for a family of four in 2010 — are eligible for the credits. In all, 1.08 million Ohioans will be eligible for tax credits totaling about $4.1 billion in 2014, according to the report.
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About 87 percent of people eligible for the credits are members of a family in which at least one person works full time. The amount of the tax credits relate directly to a family’s income, with lower incomes getting larger tax credits, according to the report.
When a family qualifies for the credit, the dollars from the credit will flow directly to the health plan in which the family enrolls, offsetting the total cost of the family’s health insurance premiums for that plan.
Families USA commissioned health research firm The Lewin Group, which is a unit of Minneapolis health insurer UnitedHealthcare, to prepare the estimates in the report.
