New Report details how many Illinoisans will qualify for new Health Insurance Tax Credits in 2014

Report Set for April 4, 2013 release will provide County-Specific Breakdown of Tax Credit Eligibility by Income, Age, Race and Ethnicity, Employment Status

Illinois – A report to be released on Thursday, April 4 by Families USA, the national health consumer organization, spells out how many Illinoisans will be eligible in 2014 for premium tax credits that will help them pay for health coverage. These premium tax credits—available to Illinois residents under the Affordable Care Act—will help provide affordable access to quality health care for individuals and families of all ages and of all racial and ethnic backgrounds across the state.

The report comes at a particularly crucial time as Illinois continues to move forward with the development of the health insurance marketplace, or exchange. State-based health insurance marketplaces are a critical component of the Affordable Care Act’s provisions to expand access to more than one million uninsured individuals in Illinois.

In addition to being the gateway for people to purchase subsidized health insurance, if an exchange is designed well it will also help to organize insurance markets, promote robust competition among health plans, and keep rates affordable for consumers and small businesses. Currently before the Illinois General Assembly, Senate Bill 34 (SB34) provides for development of exactly that kind of consumer and small business friendly marketplace.

The report will provide both statewide and county-specific numbers for:

  • The number of Illinoisans eligible for new premium tax credits in 2014,
  • The number of eligible Illinoisans by racial or ethnic group,
  • The number of eligible Illinoisans by income level, and
  • The number of eligible Illinoisans by employment status and age.

The report will also provide a brief discussion of how the premium tax credits will relate to the statewide health insurance marketplace that will be created and what kind of health insurance will be offered in the marketplace.