Mon October 11, 2010
200,000 New Mexicans Eligible for Health Care Tax Credits in 2014
By Elaine Baumgartel and Eric Mack
Albuquerque, NM – Over 200-thousand New Mexicans will be eligible for tax credits in 2014 according to a new analysis of the health care overhaul by the advocacy group Families USA.
The report is called Lower Taxes, Lower Premiums and it looks at how much money low and middle income New Mexicans will save when the new health insurance tax credit goes into effect.
Families USA Executive Director Ron Pollack says the tax credits will help around 120-thousand uninsured New Mexicans and over 80-thousand New Mexicans who have insurance but are having a hard time making ends meet.
Republicans in Congress have attacked the reform as a wasteful, big government program. But Pollack says the Congressional Budget Office found just the opposite, that the plan will save money by making the health care system more efficient.
And Pollack says since it will be part of the subsidies built into the new health care exchanges people will get the money immediately when signing up for health insurance, without having to wait until they file their taxes.