Do You Qualify for the Health Care Premium Tax Credit?

Individuals and families can buy private health insurance through affordable insurance exchanges, which are marketplaces where individuals can shop for private health insurance. If you purchase health insurance through an exchange, you may be eligible for a tax credit that will make your coverage more affordable.

The credit is aimed at middle-income individuals and families. A larger credit is available for older individuals whose coverage costs may be higher. The credit will be refundable, which means it can be used by people who pay little or no federal income tax. You can also arrange for the credit to be paid to your insurer in advance so that you have little or no out-of-pocket costs for your healthcare premiums. Are you eligible for the credit? We can help you find out and work with you to make the best use of your health insurance dollars. Call us today with all your questions about health care or any other tax or financial concerns.