As a result of recent regulatory changes, many families who previously didn’t qualify for the Premium Tax Credit may now be eligible starting in 2023.
If families qualify for the Premium Tax Credit, they will not be required to contribute more than 8.5% of their household income toward their health insurance (lower amounts for low- to moderate-income households). It’s important for your clients to know about this change now, as many of them are currently reviewing their health insurance options during their employer’s open enrollment period. Remember, many of the big health insurance companies offer plans through these government health exchanges.
All registrants for Spidell’s 2022/23 Federal and California Tax Update webinar and seminar will receive a Premium Tax Credit client letter that we have prepared to inform your clients now about these recent changes.
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