How to get Family Health Insurance Credit. The future of the Affordable Care Act is murky at best. But for now, the premium tax credits issued via the program are alive and well. Here’s how they work:
Individuals and families who buy coverage through the government’s health insurance marketplace (Healthcare.gov) can qualify for a credit toward their insurance premiums. The credit can be paid directly to your insurance provider, lowering your monthly payments, or paid out as a tax credit when you file your return.
The premium tax credit – also known as PTC – is a refundable credit that helps eligible individuals and families cover the premiums for their family health insurance purchased through the Health Insurance Marketplace. To get this credit, you must meet certain requirements and file a tax return.