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Premium tax credits (also known as cost-sharing subsidies)

A tax credit you can use to lower your monthly insurance payment, or premium, when you enroll in a plan through the health insurance marketplaces. The tax credit is based on your income estimate and household information provided in your health insurance application. If your estimated income falls between 100% and 400% of the federal poverty level for your household size, you qualify for a premium tax credit.

Issue
The United States Congress recently passed sweeping budget legislation that makes deep cuts to Medicaid and fails to extend tax credits that make healthcare premiums through the Affordable Care Act (ACA) marketplaces more affordable. Without these safeguards, many small business owners and their employees will see their healthcare costs increase, and some could even be left without healthcare coverage. Here is what you need to know.
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