Penelope
Diamond Member
- Jul 15, 2014
- 60,265
- 15,791
of credit a year. Unreal, as I live and breathe, the GOP do not have a brain. They get a credit of 4 grand a year, even thought the plan states the cost difference for the age difference is going from 1:3 to 1:5 , so in that case since insurance can cost a 60 year old 5 times more, why is the credit not 10,000grand, 5 X 2000?
Can they not multiply??
Can they not multiply??
all family members (up to $14,000 or 5 family members including spouses, dependents, and adult children under age 27). (If the monthly premiums are less than the total allowed amount, the excess may be paid into an HSA.)
The annual tax credit amount is established at $2,000 for an individual under 30, $2500 for those age 30 to 39, $3,000 for those age 40 to 49; $3,500 for those age 50 to 59, and $4,000 for those age 60 and over. The tax credit begins to phase out when a taxpayer’s modified adjusted gross income reaches $75,000 ($150,000 for joint filers) adjusted annually by the consumer price index plus one percentage point for inflation after 2020. It phases out by 10 percent of the excess of the modified adjusted gross income above this amount, so the tax credit would disappear for a 29 year old when income reached $95,000 and for a 60 year old when income reached $115,000.
Examining The House Republican ACA Repeal And Replace Legislation