ACA’s Family Glitch: Lower Health Insurance Premiums in 2024
What is the ACA Family Glitch?
The ACA Family Glitch is a provision in the Affordable Care Act (ACA) that affects the eligibility of certain families for premium tax credits to help pay for health insurance. Under the glitch, families with incomes above 400% of the federal poverty level (FPL) who have access to affordable employer-sponsored health insurance are not eligible for premium tax credits.
Why is the Family Glitch Important?
The Family Glitch has a significant impact on many families. According to the Kaiser Family Foundation, an estimated 5.1 million people were affected by the glitch in 2023. These families often face high health insurance premiums, making it difficult for them to afford coverage.
Changes to the Family Glitch
In 2023, the Biden administration announced changes to the Family Glitch that will make it easier for families to qualify for premium tax credits. These changes will take effect in 2024.
Under the new rules, families with incomes above 400% of the FPL will be eligible for premium tax credits if they have access to employer-sponsored health insurance that is:
Unaffordable (the employee’s share of the premium is more than 9.61% of their household income)
Does not provide comprehensive coverage (the plan has high deductibles or copayments)
How to Benefit from the Changes
If you are a family affected by the Family Glitch, you will need to take action to take advantage of the changes in 2024. You can do this by:
Checking your eligibility for premium tax credits on the Health Insurance Marketplace
Enrolling in a health insurance plan that meets your needs and budget
Contacting a licensed health insurance agent for assistance
Conclusion
The changes to the ACA Family Glitch are a positive step forward for families who have been struggling to afford health insurance. By making premium tax credits more accessible, these changes will help families get the coverage they need to stay healthy and secure.
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