The Premium Tax Credit
The premium tax credit, or PTC, is a refundable credit that helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. To get this credit, you must meet certain requirements and file a tax return.
You are eligible for the premium tax credit if you meet all of the following requirements:
- Have household income that falls within a certain range.
- Do not file a Married Filing Separately tax return
- Unless you meet the criteria in the regulations. which allows certain victims of domestic abuse and spousal abandonment to claim the premium tax credit using the Married Filing Separately
- Cannot be claimed as a dependent by another person.
- In the same month – a coverage month – you, or a family member:
- Enroll in coverage through a Health Insurance Marketplace
- Are not able to get affordable coverage through an eligible employer-sponsored plan that provides minimum value.
- Are not eligible for coverage through a government program, like Medicaid, Medicare, CHIP or TRICARE.
- Pay the share of premiums not covered by advance credit payments