HHS: 4,000 Rhode Islanders not taking advantage of reduced health insurance prices on HealthSource

THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES says that 4,000 Rhode Islanders are eligible for federal tax credits to help them purchase health insurance through the state's marketplace but have not taken advantage of the opportunity.
THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES says that 4,000 Rhode Islanders are eligible for federal tax credits to help them purchase health insurance through the state's marketplace but have not taken advantage of the opportunity.

PROVIDENCE – About 4,000 Rhode Islanders are eligible for tax credits that could reduce the cost of their health insurance, according to the U.S. Department of Health and Human Services, which said it is trying to improve its communication effort to reach these individuals and households.

Nationally, a report commissioned by the department found that 2.5 million Americans who purchase health insurance coverage, but not on state health insurance marketplaces, could qualify for tax credits under the Affordable Care Act.

According to a department summary of the data, 6.9 million Americans purchase health insurance in the off-marketplace individual market. Of those, about 1.9 million either have incomes that would qualify them for Medicaid, or place them in the Medicaid coverage gap, or are ineligible to purchase marketplace coverage due to immigration status.

In addition, when including the marketplace consumers, more than 70 percent of the individuals who are insured through the individual market have incomes that could qualify for tax credits.

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Consumers generally are eligible for tax credits to reduce health insurance costs if their incomes are between 100 percent and 400 percent of the federal poverty level, or less than about $100,000 in annual earnings for a family of four.

Enrollment for 2017 coverage through HealthSource RI begins in November. Consumers who sign up by Dec. 15, 2016, can obtain health care coverage beginning in January 2017. As of the end of the 2016 open enrollment period, 34,888 individuals had signed up for health insurance coverage through the state health insurance marketplace.

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