Kaiser estimates 684,000 North Carolinians are eligible for insurance premium subsidies

A new report from the Kaiser Family Foundation estimates that 684,000 North Carolinians will be eligible for tax credits if they buy coverage through the Affordable Care Act marketplace next year. 

Estimates for each state reflect demographic information, including how many lack insurance now, their income levels, or buy their own coverage now and their income levels, as well as whether each state is expanding its Medicaid program.

Here is a link to the full report that includes a table showing each state’s data.  

There is also ZIP-code-specific calculator that can estimate the premiums and tax subsidies people might get if they purchased coverage on the exchange – based on relevant information such as ZIP code, age, family size and income.  

The federal premium subsidies, in the form of tax credits, are designed to help low- and moderate-income people buy private health insurance. 

To qualify for tax credits, people must earn between 100 and 400 percent of the federal poverty level (that's $23,550 and $94,200 annually for a family of four). They must also not be eligible for affordable coverage from an employer or from Medicaid or Medicare. People who are not lawfully present in the country or who are incarcerated are not eligible for tax credits. 

In states that expand Medicaid under the Affordable Care Act,  uninsured residents with incomes up to 138 percent of the federal poverty level will qualify for Medicaid. In states that do not expand, uninsured residents between 100 percent and 138 percent of the federal poverty level generally will be eligible for tax credits, but those with lower incomes generally will be left without assistance. 

The new analysis estimates that about 29 million people nationally are potential customers for the exchange, including currently uninsured people and those who buy private insurance on their own now through the existing markets for non-group insurance. People who buy coverage also will face deductibles and other cost-sharing, depending on the plan they chose, though some of those who are eligible for tax credits will be eligible for additional assistance with their cost-sharing.