Ads
related to: what is health insurance premium tax credit eligibility requirements
Search results
Results From The WOW.Com Content Network
Tax credits can save you money at tax time by reducing what you owe. If you purchase health insurance through the Health Insurance Marketplace, you may qualify for the Premium Tax Credit.
The eligibility criteria for the premium tax credit is determined by section 1401 of the Affordable Care Act (Obamacare). The Act was signed into law on March 23, 2010, and specified that the credits are only available to individuals and families who have enrolled in a health plan offered on a healthcare exchange.
The premium tax credit is a refundable tax credit in the United States that’s designed to help eligible individuals and families with low or moderate income afford marketplace health insurance.
If you aren’t eligible for an employer-sponsored plan through your own employer or a spouse’s employer, then the health insurance premiums you pay for yourself and dependents may be tax ...
Health insurance marketplaces; Premium tax credit ... who meet certain eligibility requirements. ... child not be eligible for other group health insurance coverage ...
Employers who purchase health insurance through the program may get a tax credit of up to 50% of their premium contributions. The tax credit via Form 8941 is available only to businesses that meet certain standards. Firstly, employers have fewer than 25 employees. [8] Secondly, their employee salary must be less than an average of $50,000. [8]