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New York Families to Get Premium Tax Credits in 2014

401(K) 2013, Flickr

A report released Tuesday says that in 2014 approximately 1.5 million New Yorkers will be eligible for premium tax credits that will help them pay for health coverage.

According to the report by Families USA, a national health consumer organization, most of those eligible for the premium tax credits will be in working families and have incomes between, $47,100 and $94,200 for a family of four.

The report includes county-by-county data, under the terms of the Affordable Care Act. These premium tax credits take effect in January 2014.

Following an enrollment process that begins in October of this year, the tax credits will be determined on a sliding scale based on income. Those with the lowest incomes will receive the largest tax credits, ensuring that those who need it most will get the greatest financial assistance.

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