Premium Tax Credit Estimator
Did you know that you can get help paying for health insurance? Depending on how big your family is and how much you earn, you may qualify for a health insurance premium tax credit.
Are you eligible?
- An individual with an income under $47,080
- A couple with an income under $63,720
- A family of three with an income under $80,360
- A family of four with an income under $97,000
- A family of five with an income under $113,640
For example, single people earning $46,680 or less per year, and families of four earning $95,400 or less, may qualify for a health insurance premium tax credit. This credit can be applied to health insurance you buy on your own. You can't use it if you qualify for health insurance through your job.
You'll need to enroll in an on-exchange health plan that meets the Affordable Care Act's minimum essential coverage requirement. You can buy an on-exchange plan and choose to apply the premium credit through Blue Cross and Blue Shield of Texas. You can also enroll on the Health Insurance Marketplace or with a health insurance agent. Learn how this may affect your tax return.
The premium tax credit gets sent to your health insurance company. This lowers the cost of your insurance premium every month. You'll need to enroll in a health insurance plan that meets the Affordable Care Act's minimum essential coverage. Plans that meet these guidelines are available through Blue Cross and Blue Shield of Texas, the Health Insurance Marketplace, or a health insurance agent.
If you didn't qualify for the premium tax credit last year, you may qualify this year if:
- You got married or divorced
- You had or adopted a baby
- Your income decreased
- You lost your job-sponsored insurance