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Study: 518,000 Virginians eligible for tax credits

Tuesday - 11/5/2013, 3:40am  ET

RICHMOND, Va. (AP) -- A new study says about 518,000 Virginia residents will be eligible for tax credits under the federal health care reform law if they purchase coverage through new health insurance marketplaces.

The state-by-state analysis was conducted by the Kaiser Family Foundation. Only eight states will have more residents eligible for tax credits than Virginia. Texas tops the list at 2 million residents.

Nationally, an estimated 17 million people will be eligible for the credits. To qualify, people must earn between 100 percent and 400 percent of the federal poverty level. That's between $23,550 and $94,200 annually for a family of four. They also must not be eligible for affordable coverage from an employer or from Medicaid or Medicare.

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