Plea for More Generous Health Credit Rejected by IRS
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An effort to allow looser rules for calculating whether workers will be eligible for U.S. subsidies to buy health insurance was rejected today by the Internal Revenue Service.
Employees can receive government tax credits to buy insurance for their families if the coverage their employers offer would cost more than 9.5 percent of their income, the IRS said today in final regulations. That calculation will be based on the cost of self-only coverage, not family coverage, which is more expensive and would give more people access to the credits.