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Here's What Older Americans Need to Know About the Age Tax

Source: fool.com - Mar 24, 2017

Utter the word "Obamacare" in a crowded room, and you'll get a host of mixed reactions (and perhaps some choice words). But the proposed Republican version -- the American Health Care Act -- is certainly not without controversy itself. One major provision of the plan, dubbed the age tax, is particularly troublesome for older Americans who aren't yet eligible for Medicare and get their insurance through the open marketplace.
What is the age tax?

Under Obamacare, workers earning less than $48,000 a year received subsidies to help offset their insurance costs. Those subsidies were directly tied to income and the price of insurance by geographic region. (Premiums are considerably more expensive in some parts of the country than others.)

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Category: General Business