Tax credits possible for 1.5 million NY uninsured

Group sees tax credits for 1.5 million in New York to offset health insurance coverage cost

Associated Press

ALBANY, N.Y. (AP) -- An advocacy group says 1.5 million uninsured New Yorkers will be eligible for federal tax credits next year to help offset the cost of health coverage.

A report by Families USA notes that the credits for those with incomes ranging from 138 percent to 400 percent of the federal poverty guidelines will go directly to the health plan in which the individual or family enrolls, offsetting their total premiums.

A family of four with income up to $94,200 would be eligible.

In concert with President Barack Obama's federal health care overhaul, New York is establishing a health insurance marketplace called an exchange.

New York has an estimated 2.7 million uninsured among some 19 million residents.

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