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The Premium Tax Credit #care #one #credit


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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.

Who Qualifies

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

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