About eight in ten (81 percent) of eligible Minnesotans will be white and non-Hispanic, while about 5 percent will be black and non-Hispanic and 7 percent will be Hispanic.
The subsidies will be available to individuals and families with incomes of up to 400 percent of the federal poverty level. For individuals, that figure is $46,000. For families, that figure is $94,200.
Tax credit subsidies will be paid directly from the government to the insurance carrier contemporaneously. So instead of paying out of pocket and getting reimbursed, payments will be made up front and require no reimbursement.
“The tax credit subsidies are a game changer,” Pollack said. “They will make health coverage affordable for millions of families and provide significant relief for families now purchasing health insurance.”