Healthcare Affordability Credits

"Steve Pope" wrote

All good questions, which unfortunately won't be answered before the bill comes to a vote and is signed into law.

Ask your Congresscritter.

All those are subject to change before the bill passes (if it does), and the Senate will write its own version with still more changes.

thomas.loc.gov finds no such bill searching under "affordability credits". The closest I could find was HR 2399

True, but it's interesting to see what it looks like as of the current draft.

I've found H.R. 3200 on Thomas, and the Individual Affordability Credits are described in Subtitle C, starting with Section 241. It does not appear there is any asset test, and the credits are based on MAGI.

MAGI requires that one add back in traditional IRA contributions, so this would seem to hit pensionless employees while favoring employees with pension plans and the self-employed.

It also would seem the wealthy could have all their income come from municipal bonds and still collect affordability credits.

These are of course things that are very likely to be revised as the legislation progresses.

Steve

You can see the official explanation here:

Thanks. It is interesting that this summary flatly states you do not get the credits if your income is below 133% of poverty level. This could create a doughnut hole of people who fail to meet some asset test for Medicaid, yet have too little income to get the affordability credits.

Steve