Study: 17M eligible for O-Care credits

About 17 million of the 29 million consumers that could seek healthcare through the new marketplaces will be eligible for premium tax credits in 2014, according to a study released Tuesday by the Kaiser Family Foundation.

According to the report, there are 29 million Americans that are either uninsured or purchase healthcare on their own.

Kaiser found that 17 million of those have incomes between 100 percent and 400 percent of the federal poverty level, which would make them eligible for premium tax credits when they enroll for healthcare coverage through a state or federal exchange.

Texas, California and Florida top the list of states with the most potential tax credit recipients, each with more than 1 million.   

The Affordable Care Act seeks to provide coverage to those who might previously have been locked out the private insurance market because they have a preexisting condition or can’t afford to buy into a non-group policy. The tax subsidies are a major aspect of that.

The Obama administration has battled against those who said the president was misleading when he said if you like your healthcare you can keep it by arguing that some of those receiving cancellation notices will purchase a new plan through, where they may find that they’re eligible for federal subsidies.