How much does the federal government spend on health care? Q.How much does the federal government spend on health care? A.The federal government spent nearly $1.5 trillion on health care in fiscal year 2022. In addition, income tax expenditures for health care totaled $300 billion. Read more about How much does the federal government spend on health care?
What are premium tax credits? Q.What are premium tax credits? A.The Affordable Care Act provides families with refundable, advanceable tax credits to purchase health insurance through exchanges. Premium credits cap contributions as a share of income for families with incomes over 100 percent of the federal poverty. After 2025, the credit will be less generous and only be available to families with incomes below 400 percent of FPL. Read more about What are premium tax credits?
How do health savings accounts work? Q.How do health savings accounts work? A.HSAs are tax-exempt savings accounts used in conjunction with a high-deductible health insurance plan to pay for qualifying medical expenses. Read more about How do health savings accounts work?