Over 3 million older adults ages 50-64 currently rely on tax credits under the Affordable Care Act (ACA) to purchase health insurance coverage in the nongroup (individual) health insurance market. These tax credits provide critical financial assistance for older adults with low- to moderate- incomes who do not have access to affordable health insurance through an employer or a public program. Replacing current-law tax credits with proposed "flat" tax credits adjusted for age would substantially reduce their value for lower-income older adults by as much as $5,900 for an individual and would put health insurance and care out of reach for many.
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