Did you know if you purchase health insurance through the Marketplace, you could   if you qualify for a subsidy? According to the Washington Post, nearly 11.7 million Americans have enrolled in Marketplace coverage for 2015. And according to the Center for Medicare and Medicaid Services, nearly 85% or 8.7 million consumers received assistance to help lower their monthly health insurance premiums. Eligibility for a subsidy is based on family size and income, and the Federal Poverty Level (FPL). 


What types of assistance are available?

Premium Tax Credit (PTC) - PTCs are used to lower your monthly premium costs. If your payment amount is less than the credit due, then you will receive a refundable credit. If your payment amount is more than the credit due, then you may have to repay.

Advanced Premium Tax Credit (APTC) – This credit helps you afford coverage that is bought through the Marketplace and can be used immediately to lower your monthly premium. If you are eligible, you choose how much APTC to apply. If your payment is more than the credit due, you could owe the difference to the IRS.

Cost Sharing Reduction (CSR) – A CSR is considered a discount to reduce your out-of-pocket costs which may include copayments, coinsurance, and deductibles. You can only receive this discount if you purchase through the Marketplace and you choose a Silver plan. 

Note: To apply for any assistance to help you lower your monthly premiums, you must purchase health care coverage through the Health Insurance Marketplace. 


To find a Liberty Tax® ACA Advisor at your local Liberty Tax® office, call 800-673-8600 or visit www.healthcaretaxinfo.com.

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