SEC. 243. AFFORDABLE PREMIUM CREDIT.

[a] In General- The affordability premium credit under this section for an affordable credit eligible individual enrolled in an Exchange-participating health benefits plan is in an amount equal to the amount [if any] by which the premium for the plan [or, if less, the reference premium amount specified in subsection [c]], exceeds the affordable premium amount specified in subsection [b] for the individual.

[b] Affordable Premium Amount-

[1] IN GENERAL- The affordable premium amount specified in this subsection for an individual for monthly premium in a plan year shall be equal to 1/12 of the product of--

[A] the premium percentage limit specified in paragraph [2] for the individual based upon the individual's family income for the plan year; and

[B] the individual's family income for such plan year.

[2] PREMIUM PERCENTAGE LIMITS BASED ON TABLE- The Commissioner shall establish premium percentage limits so that for individuals whose family income is within an income tier specified in the table in subsection [d] such percentage limits shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier.

[c] Reference Premium Amount- The reference premium amount specified in this subsection for a plan year for an individual in a premium rating area is equal to the average premium for the 3 basic plans in the area for the plan year with the lowest premium levels. In computing such amount the Commissioner may exclude plans with extremely limited enrollments.

[d] Table of Premium Percentage Limits and Actuarial Value Percentages Based on Income Tier-

[1] IN GENERAL- For purposes of this subtitle, the table specified in this subsection is as follows:

The initial premium percentage is-- The final premium percentage is-- The actuarial value percentage is--

133% through 150% 1.5% 3% 97%

150% through 200% 3% 5% 93%

200% through 250% 5% 7% 85%

250% through 300% 7% 9% 78%

300% through 350% 9% 10% 72%

350% through 400% 10% 11% 70%

[2] SPECIAL RULES- For purposes of applying the table under paragraph [1]--

[A] FOR LOWEST LEVEL OF INCOME- In the case of an individual with income that does not exceed 133 percent of FPL, the individual shall be considered to have income that is 133 percent of FPL.

[B] APPLICATION OF HIGHER ACTUARIAL VALUE PERCENTAGE AT TIER TRANSITION POINTS- If two actuarial value percentages may be determined with respect to an individual, the actuarial value percentage shall be the higher of such percentages.