What is the Advanced Premium Tax Credit and how does it work?
Who is this for?
If you buy your own health insurance, you'll want to know about this tax credit that can be applied to what you pay each month for your plan.
Because of the Affordable Care Act, many people who buy their own health insurance will be eligible for financial assistance in 2014. This assistance, called a subsidy, lowers what you pay for your health coverage. There are two kinds of subsidies: the Advanced Premium Tax Credit and Cost Sharing Reduction.
The Advanced Premium Tax Credit goes toward your health insurance premium—what you pay each month to maintain your health coverage. You can apply it to our bronze, silver or gold plans. Here's what else you need to know about the premium tax credit.
- How can I lower my monthly health insurance cost?
- How can I know I'm purchasing the right health insurance plan?
- Individual and family health insurance - check out our MyBlue℠ plans designed to fit your health care needs and your budget.
- Health Insurance 101: Insurance subsidies