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Final regulations issued on premium tax credit (subsidy)

regulations subsidy Final regulations issued on premium tax credit (subsidy)On February 1, 2013, the IRS issued a final regulation that provides the long awaited answer of whether family members of an employee who has access to affordable self-only coverage are eligible for a premium tax credit/subsidy.

The answer is that they are not – if the employee has access to affordable self-only coverage, the spouse and children are also considered to have access to affordable employer-sponsored coverage, and therefore the spouse and children are not eligible for premium tax credits/subsidies.

To read the final IRS rule, click here:
http://www.gpo.gov/fdsys/pkg/FR-2013-02-01/pdf/2013-02136.pdf

Photo credited to: (cbsnews.com)

DISCLAIMER: Because of the generality of this update, and based on particular situations, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice, financial advice and/or the advice of a licensed insurance or certified human resource professional.

© Connelly, Carlisle, Fields & Nichols 2012



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