- Meet specific income criteria (household income between 100% and 400% of the federal poverty level, or FPL*)
- Buy a plan offered through the exchange and not receive any employer contribution toward the plan's cost
- Not have the ability to secure minimum essential coverage elsewhere except by purchasing a plan in the individual health insurance market or enrolling in an employer-sponsored plan that is "unaffordable" or does not provide "minimum value"
Help With Health Insurance, consumers will soon be able to purchase health care coverage on new government-run insurance exchanges. The exchanges are being created pursuant to the health care reform law. The initial open enrollment period for the exchanges is scheduled to begin on October 1, 2013, and coverage will be offered on January 1, 2014. Premium Tax Credit Qualifying taxpayers who purchase health care coverage on an exchange will receive a premium tax credit to help cover the cost. The credit amount will vary with household income and the exchange 1:ep plan chosen. At most, premium credit recipients will be required to pay 9.5% of their income for a benchmark plan. An additional premium will be payable Ir if a more expensive plan is selected. To be eligible for a pren-dum credit, a taxpayer generally must: