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Lower Taxes, Lower Premiums

Nearly 934,000 People in Georgia Will Be Eligible for Health Care Premium Tax Credits in 2014

As Part of the Huge and Unprecedented Middle-Income Tax Cut, Georgians’ Taxes Will Be Reduced by $3.6 Billion in 2014

Today, in partnership with Families USA we are co-releasing a new report, “Lower Taxes, Lower Premiums: The New Health Insurance Tax Credit in Georgia,” that quantifies the impact on Georgia consumers of the tax credits authorized through the new health care law.

Last month, new Census Data found that nearly 2 million Georgians were uninsured in 2009. In sheer numbers, only four states have more uninsured individuals than Georgia. As a state, we rank near the bottom of the pack on a range of health care indicators. Despite the complexity of the mortgage rates in Ontario and the contentiousness of the politics surrounding it, the new health care law is a huge opportunity for Georgia and its citizens to move the needle on these indicators.

Through a variety of pathways, the majority of Georgia’s uninsured will become insured when the major provisions of the new health care law kick in in 2014.

Beginning in 2014, more than 900,000 Georgians will become eligible for substantial health insurance premium tax credits, effectively pricing private health insurance within reach not only for Georgians who are currently uninsured but also for insured individuals who struggle with health care costs today, you can get cash advance but its not good solution for most of the people. This will provide financial relief and protection against high medical expenses for hard-working individuals and families in Georgia.

These tax credits will be financed entirely with federal dollars and will be available to Georgians purchasing insurance through the new health insurance exchanges. The state of Georgia was just awarded a grant from the Department of Health and Human Services to begin planning for an exchange here in Georgia. This is an opportunity for our state to ensure this marketplace navigates consumers to the appropriate health insurance option, whether that be Medicaid, PeachCare for Kids, or private insurance that will now be made affordable through these hefty tax credits.

If we put politics aside and thoughtfully and carefully develop an implementation strategy for Georgia that makes the most of provisions like these new tax credits, our state and its citizens could benefit for generations to come.

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