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Subsides in FL average $3,000

The open enrollment deadline for health insurance will soon pass, and many Florida residents who have already signed up for insurance benefits have received tax credits to cover premiums, according to a new study.

The study, conducted by the Kaiser Family Foundation, found the vast majority of Florida residents (90 percent) qualified for tax credits, with the subsidy for each Floridian averaging $3,000. According to the study, 83 percent of those who enroll in plans through the federal and state-run marketplaces nationwide qualify for tax credits, making Florida’s 90 percent eligibility at the top of the pack. 

According to Health News Florida, there are specific requirements for eligibility that enrollees need to reach before they can actually receive the tax credits. However, the study found only 1 in 4 eligible Floridians had signed up for insurance benefits through the exchange website by March 1. 

“While Florida officials haven’t exactly embraced Obamacare, people are signing up in large numbers in the state and receiving significant financial assistance with their insurance premiums,” Larry Levitt, co-author of the report, told Health News Florida.

Many Florida residents are opposed to the healthcare reform law. An op-ed in the Florida Courier suggested Floridians take advantage of the exchanges and the benefits they offer. 

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Erin Woulfe
Erin Woulfe
Erin Woulfe likes to write about things that matter. Keeping her finger on the pulse of what’s happening in the public sector world, she blogs about the latest legislative news and employee benefit trends that affect our school, city and county clients. She’s been with NIS since 2002. “I love connecting to our clients and providing them with the tools they need in order to administrate their plan,” says Erin. “Whether that be materials to educate their employees on certain benefits, how to effectively communicate change within an organization or just providing tips and how-to’s to help them make their job easier.”

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