Obamacare Subsidies Headed To Supreme Court
Federal subsidies make some health care plans much cheaper under Obamacare, but the Supreme Court will consider whether they're legal.By Christina Hartman | November 7, 2014
Unless you live in DC or one of the 14 states in red, you’ll wanna pay attention to the Supreme Court, which just decided to look at whether federal subsidies under Obamacare are legal.
It’s a big deal because insurance under the Affordable Care Act is only — well, affordable, in most states because federal tax credits take a big chunk out of monthly premiums.
See — under the ACA, if your income is up to 400 percent of the federal poverty line, you can qualify for credits. That basically means the federal government pays part of your premiums. And according to Obama administration officials, that can take an average premium of about $350 to around $80. (Video via HealthCare.gov)