Health Reform in Translation: What is the Premium Tax Credit?

Aug 22, 2013
Premium tax credits (PTC) are a new mechanism that will be available beginning in January 2014 to help people purchase health insurance in Covered California under the Affordable Care Act (ACA). Premium tax credits will be determined on a sliding scaled based on income, and will operate as an offset against federal income taxes. Unlike many tax credits, the PTC will be available as soon as a consumer enrolls in an insurance plan - they won't have to wait until tax filing to claim the benefit. The PTC can be paid directly to the health insurance carrier to be applied against the premium.
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