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Report examines tax breaks in Affordable Care Act


WASHINGTON D.C. (WKZO) -- A new report highlights the tax credits for health insurance included in the Affordable Care Act, and concludes that they could by available for over 740 thousand Michigan residents.

Families USA says that the federal healthcare law would require these subsidies to be paid directly to health insurers, so consumers don't have to deal with the IRS to get them, and applications will start being accepted this October. Congressman Gary Peters says that, and the new healthcare exchange, will mean cheaper coverage and more competition.Families USA says that the tax breaks will be available to people who earn up to 400 percent of the federal poverty line.