How you could qualify for a health insurance tax credit | 211info

By Susan Salisbury, 211info Health Connect

Is your income a little too high for the Oregon Health Plan, but you could still use a little help paying for your health insurance?

Cover Oregon ? the new health insurance exchange ? has some information you should check out. They are offering assistance for premiums, based on income.?

Calculating the tax credit

Their online ?http://coveroregon.com/calculator.php# ">health plan savings calculator? will help you determine what money you could get back for enrolling in the new health insurance exchange.

For example, a family of four with income up to $94,200 and an individual with income up to about $45,960 will be eligible for a tax credit.

Cost of coverage will vary according to plan chosen and the number and ages of family members covered and some plans will include assistance with co-pays and co-insurance.

Getting your tax credit

And conveniently, they also offer you two ways in which you can receive that assistance.

1) If you?d like a little more money in your pocket each month ? you can receive the tax credit as a monthly deduction. This means your insurance premium will be reduced before your bill is received.
2) You can also decide to claim your tax credit at the time you file your taxes, you will receive it as a refund in one lump sum.

You could qualify for OHP

For individuals whose income qualifies, Cover Oregon will also be enrolling low-income residents into the Oregon Health Plan (OHP). This will open OHP enrollment to many residents who have been on the waiting list for months or years, making healthcare available to Oregonians most in need.

Keeping tabs on health reform

This is a time of great change for health care insurance in the State of Oregon. Beginning in October, Cover Oregon will begin signing up residents and employers for plans with one of a group of participating insurance carriers. And new plans will become effective January 1, 2014.

It will be important to stay in the know, so we hope you follow our health care coverage here or sign up to our email alerts for all these exciting changes!

Want to know more?

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Source: http://211info.org/blog/how-you-could-qualify-health-insurance-tax-credit

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