A consumer group says more than 1 million Illinois residents will be eligible for tax credits to offset the cost of health insurance starting in 2014.
Families USA released the estimate in a report on how the new national health law may affect Illinois.
The report says tax breaks will reduce Illinois income taxes that year by nearly $4 billion. The size of an individual’s tax credit will be based on family income, with more money going to those with lower incomes.
About 60 percent of Illinoisans who qualify for the tax credits will already have health insurance. The rest will be uninsured.
Families USA has been a proponent of the health care law, which requires most people to have health insurance starting in 2014.
The analysis was done by the Lewin Group consulting firm.
Online: http://www.familiesusa.org
Topics Illinois
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