The Premium Tax Credit – The basics | Internal Revenue Service
The premium tax credit – also known as PTC – is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace.
Questions and answers on the Premium Tax Credit
The Premium Tax Credit is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through the Health Insurance Marketplace, also known as the Exchange. The size of your Premium Tax Credit is based on a sliding scale.
Premium Tax Credit: What It Is, How It Works - NerdWallet
Apr 29, 2024 · The premium tax credit is a refundable tax credit that helps cover the cost of health insurance premiums. It’s available to taxpayers who have purchased a health insurance plan from the...
Eligibility for the Premium Tax Credit - Internal Revenue Service
Nov 5, 2024 · You may be allowed a Premium Tax Credit if: You or a tax family member enrolled in health insurance coverage through the Marketplace for at least one month of a calendar year in which the enrolled individual was not eligible for affordable coverage through an eligible employer-sponsored plan that provides minimum value or eligible to enroll in ...
2023 health coverage & your federal taxes - HealthCare.gov
A tax credit you can use to lower your monthly insurance payment (called your “premium”) when you enroll in a plan through the Health Insurance Marketplace®. Your tax credit is based on the income estimate and household information you put on your Marketplace application.
How Does the Premium Tax Credit Work for Health Insurance?
Dec 12, 2023 · What is a health insurance tax credit? A premium tax credit, also called a premium subsidy, lowers the cost of your health insurance. You can apply the discount to your insurance bill every month, or you can get the credit as a refund on your federal income taxes.
How to Qualify for Health Insurance Tax Credits for 2025
Nov 5, 2024 · Your eligibility for premium tax credits is based on your household income in relation to the federal poverty level (FPL). For 2025, individuals with incomes between 100% and 400% of the FPL qualify for these credits, offering meaningful savings on health insurance premiums. Recent changes have temporarily expanded eligibility beyond 400% of ...
How the ACA Health Insurance Subsidy Works - Verywell Health
Oct 15, 2023 · One of these health insurance subsidies is the premium tax credit which helps pay your monthly health insurance premiums. This article will explain how these subsidies work, who is eligible, and how they'll affect your tax return.
Health Insurance Marketplace Calculator - KFF
Oct 27, 2023 · There are two types of health insurance subsidies available through the Marketplace: the premium tax credit and the cost-sharing subsidy. The premium tax credit helps lower your monthly...
2025 Obamacare subsidy calculator | healthinsurance.org
Oct 29, 2024 · Our ACA health insurance subsidy calculator estimates your premium subsidy based on your income, age and household size.