We first convert 4x+2y=8 into slope intercept form.
4x+2y=8
2y=-4x+8
y=-2x+4
Parallel lines have the same slope, so -2 y=-2x will remain the same for the parallel line's equation. However, the y intercept will not and we let it be the variable b. We plug in the given point, (0,1).
y=-2x+b
1=0+b
b=1
So the equation is y=-2x+1.