Permanent Health Coverage Tax Credit: Increased Financial Support
This bill aims to make the health coverage tax credit permanent, meaning eligible individuals can rely on this support long-term. Additionally, it increases the credit amount from 72.5% to 80% of insurance costs, leading to lower out-of-pocket healthcare expenses for eligible citizens.
Key points
The health coverage tax credit becomes permanent, ensuring long-term support.
The credit percentage increases from 72.5% to 80% of insurance costs, meaning greater savings for eligible individuals.
Changes apply to coverage months beginning after December 31, 2021.
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