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. To get this credit, you must meet certain requirements and file a tax return with Form 8962, Premium Tax Credit (PTC).

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.

Apr 29, 2024 · The premium tax credit is a refundable credit that helps some taxpayers afford health insurance premiums. The advance PTC lowers the premiums themselves.

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 ...

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.

The premium tax credit is a refundable tax credit that can help lower your insurance premium costs when you enroll in a health plan through the Health Insurance Marketplace. You can receive this credit before you file your return by estimating your expected income for the year when applying for coverage in the Marketplace.

3 days ago · The federal government offers enhanced premium tax credits (EPTCs or tax credits) to help some individuals and families purchase insurance on the health insurance marketplaces. Eligibility and tax credit amounts are based on the individual or family’s income level, as well as their access to other forms of comprehensive coverage, e.g ...

Learn how to maximize health care tax credit & get highest return. You must file tax return for 2023 if you are enrolled in a Health Insurance Marketplace® plan. ... You may have to use our tax tool to find 2023 Silver premiums to complete your tax return. Your 2023 health coverage status. If you haven’t filed 2023 taxes, select the type of ...

Nov 19, 2024 · What is the Premium Tax Credit? The premium tax credit (PTC) is designed to help people afford the cost of health insurance purchased through the federal health insurance marketplace. As a...

Dec 20, 2024 · Here’s what you need to know: 1. A New Look at “Coverage Month” Eligibility. The IRS has redefined what counts as a “coverage month” for tax credits. If you’ve paid enough of your health insurance premium to keep your policy active—even if it’s not the full amount—you’ll still qualify for a tax credit for that month.