The Affordable Care Act (ACA) requires all Americans have minimum health coverage beginning January 1st, 2014 or pay a fine. ACA plans offered through the Federal Health Exchange (Health Insurance Marketplace) will open October 1st, 2014. To help pay for coverage purchased through the Federal Health Exchange, a premium tax credit is available to those with lower incomes. To qualify for a tax credit, you must:

• Be a citizen or legal resident of the U.S.
• Have a family income between 100 to 400 percent of the federal poverty level
• Not have access to a qualified employer-sponsored health plan that provides minimum value (actuarial value of at least 60 percent) and that is affordable (does not cost you more than 9.5 percent of your income)
• Not eligible for public coverage – including Medicaid, the Children’s Health Insurance Program, Medicare, or military coverage
• Use your subsidy to purchase insurance through an online federally-certified public health exchange