http://online.wsj.com/article/SB125310546537515699.html#mod=WSJ_hpp_MIDDLETopStories
"....Individuals and families would be required to purchase insurance and would face penalties ranging from $750 to $3,800 for not complying.
However, those at the lower end of the income ladder and who aren't on Medicaid would receive federal tax subsidies to defray the cost.
Under the bill, the subsidies â i*n the form of a refundable tax credit* -- would flow to individuals and families with incomes up to 300% of the federal poverty level. For those with incomes from 300% to 400% of the poverty level, the bill would cap annual insurance premiums at 13% of income. Liberal critics say that level is too large and would expose middle-income families to big new expenses....
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*refundable tax credit - means many low income are forced to pay the fine as they do not the money to pay first.*
"....Individuals and families would be required to purchase insurance and would face penalties ranging from $750 to $3,800 for not complying.
However, those at the lower end of the income ladder and who aren't on Medicaid would receive federal tax subsidies to defray the cost.
Under the bill, the subsidies â i*n the form of a refundable tax credit* -- would flow to individuals and families with incomes up to 300% of the federal poverty level. For those with incomes from 300% to 400% of the poverty level, the bill would cap annual insurance premiums at 13% of income. Liberal critics say that level is too large and would expose middle-income families to big new expenses....
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*refundable tax credit - means many low income are forced to pay the fine as they do not the money to pay first.*