Obamacare: Who qualifies for the tax credit (subsidy)?

You may be able to get this tax credit if your employer doesn’t offer health insurance, or if they do, it covers less than 60% of covered benefits, or the premiums would cost you more than 9.5% of your annual household income.

To qualify, you must purchase insurance coverage through your state’s“marketplace” also known as an exchange. Your income must not be too low or too high. You cannot get the credit if you qualify for government programs like Medicare and Medicaid. You are only eligible for the credit if your household income is between 100% and 400% of the federal poverty level.

Tomorrow: How to claim the credit?