More than 170K can keep health care subsidies in New Jersey
TRENTON (AP) — More than 170,000 New Jersey residents can keep subsidies to pay for health insurance after the Supreme Court's decision to uphold federally funded tax credits.
New Jersey Policy Perspective warned recently that the average resident would have lost more than $3,700 if the Affordable Care Act subsidies were overturned.
Republican Gov. Chris Christie says on Twitter that Thursday's decision means leaders must turn their attention to making the case that Obama's signature health care law must be replaced.
Democratic U.S. Sens. Bob Menendez and Cory Booker praised the court's decision.
New Jersey Policy Perspective estimates that insurance costs to 308,000 residents in the individual market would have climbed by almost 50 percent if the tax credits were eliminated. The average premium would have risen to almost $9,000 from roughly $6,000.
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