Premium Tax Credit
The Premium Tax Credit lowers monthly health insurance premiums on the ACA Marketplace. You can take it in advance or claim it at tax time.
Also known as
Related terms
- ACA Marketplace
The ACA Marketplace, found at HealthCare.gov, is where you can compare and buy private health plans, often with subsidies, if you don't have job or government coverage.
- ACA Subsidy / Premium Tax Credit
A federal tax credit that lowers what you pay for health insurance purchased through the ACA Marketplace. The credit is calculated based on your household income relative to the Federal Poverty Level.
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Frequently asked questions about Premium Tax Credit
What is the Premium Tax Credit?+
A tax credit that lowers ACA Marketplace health insurance costs.
Who qualifies for the Premium Tax Credit?+
People who buy coverage on the Marketplace and meet income rules.
How do I apply for the Premium Tax Credit?+
Apply through healthcare.gov and reconcile on Form 8962.
Where can I get help?+
Call BenefitKarma at (866) 201-2604 or use our free benefit screener.