When starting the application, you should indicate if you are interested in financial help to lower the cost of health insurance. The Marketplace will determine eligibility based on income, household size, and a few other factors.
The Premium Tax Credits can be received in one of two ways:
(1) You can choose to claim the tax credit in advance, which means the credit will go directly to the insurance company to lower your monthly premium
(2) You can choose to receive it in a lump sum when you file your taxes.
Eligibility for Premium Tax Credits is based on your estimated income for the year during which you are receiving the credit. If you overestimate or underestimate your income and receive more or less tax credit than you were actually eligible for, the difference will be reconciled by the IRS when you file your taxes for the year in which the credits were received. For this reason, it is a good idea to report any significant changes in income, household size, or any other factors that may affect your eligibility determination to the Marketplace.
Am I eligible for financial help to help pay for health insurance?
What is a Premium Tax Credit?
What is a Cost-Sharing Reduction?
How can I apply for coverage and for financial help through the Marketplace?