We’ll now turn to key Obamacare tax changes that are in place for 2019. People who forgo health insurance in 2019 won’t have to pay a penalty. The new tax law repealed the fines under Obamacare’s individual mandate for post-2018 years. Note that this relief doesn’t apply for 2018 returns filed in 2019.

The income levels to qualify for the health premium credit in 2019 go up. The credit is available for people who buy health insurance through one of the exchanges. with household incomes ranging from 100% to 400% of the federal poverty level, which is $12,140 to $48,560 for singles and $25,100 to $100,400 for a family of four. These threshold amounts are even higher for people living in Alaska or Hawaii. Individuals eligible for Medicare or other federal insurance don’t qualify for a credit. Nor do people who can get affordable health coverage through their employer.

Income Levels to Qualify for Health Premium Credit Increases in 2019

by | Jan 17, 2019 | Americans Feeling the Squeeze, Health Insurance, Northside Tax Service, Obamacare, Tallahassee Tax Service, TallyTaxMan, Tax Credits | 0 comments