News
IRS Issues ACA Regulations
Posted 01.31.13
Some families will not be eligible for tax credits
Wednesday, the IRS issued regulations regarding eligibility for tax subsidies to purchase private insurance on their own. Citing the way the affordability legislation was written by Congress, their hands were tied. Employees are eligible for a tax credit if their individual coverage is more than 9.5 percent of their income. The calculation will be based on self-only coverage not family coverage. Some consumer groups had hoped to influence the IRS to base the threshold on the family plan cost.
Also reported in the January 31, 2013 NAHU Newswire is an article that Unions are pushing the White House for Healthcare Subsidies. Union leaders are concerned that some of the requirements of healthcare reform will increase their costs and smaller contractors with less than 50 employees will have lower workforce costs.