U.S. Supreme Court Upholds Premium Tax Credits in Federal Exchanges
Premium Tax Credits Will Be Available to Individuals Enrolled in Federal or State-Based Exchanges
The U.S. Supreme Court has ruled that the Affordable Care Act's premium tax credits are available to eligible individuals who enroll in qualified health plans through any health insurance exchange (marketplace), regardless of whether it is a state-based exchange or a federally-facilitated exchange.
Although this was not an immediate concern for states like California that offered an exchange, the outcome on a federal level could impact all states and lead to further waste in legislation of tax payers dollars. Regardless of whether you agree or disagree with the ruling, this decision means we can all move on.
The IRS is expected to provide updates regarding this matter soon.