Subsidies may be in jeopardy based on Supreme Court ruling
Open enrollment for health insurance coverage under the Affordable Care Act (ACA) ended on Feb. 15 and approximately 11.4 million Americans signed up or were reenrolled, according to the U.S. Department of Health and Human Services (DHHS). In South Carolina, 209,773 residents signed up for coverage.
DHHS reports that approximately 80 percent of those who enrolled nationwide qualify for reduced premium costs through subsidies. In South Carolina, the percentage was higher, 88 percent qualifying for an average $283 per month tax credit.
Whether those subsidies will be available hinges on a decision by the U.S. Supreme Court on the King v. Burwell case alleging that the law does not provide for subsidies in states that did not establish their own insurance exchanges. This includes South Carolina and 26 other states. Arguments in the case are set to begin in March.
In addition, the Obama administration has allowed a special enrollment period March 15-April 30 for those who missed the deadline and could be subject to a fine when they file their taxes for not signing up for coverage. For 2014, the fine was $95 or 1 percent of their income, whichever is greater. For 2015, the fine will be $325 per person or 2 percent of household income.
Gov. Nikki Haley is a vocal supporter of repealing the ACA. She rejected state Medicaid expansion and opted out of a state-run online insurance exchange.
