Can I Claim the Premium Tax Credit?

Yes — if you buy health insurance through the Marketplace (healthcare.gov) and your income falls within eligible limits, you may qualify for the Premium Tax Credit. The credit helps pay your monthly insurance premium and can be taken in advance (reducing your monthly bill) or claimed when you file your taxes. If you received advance payments that were more than your actual credit, you'll have to repay the difference. You cannot claim the credit if you have affordable employer-sponsored coverage or if you're enrolled in Medicaid. File Form 8962 to reconcile the credit each year.