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Tax Tip | What is the Premium Tax Credit?

The premium tax credit (PTC) is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace. There are a few requirements to qualify for the PTC, including:

Having a household income within a specific range (If you or your spouse received unemployment compensation for any week beginning in 2021, your household income may fall within this range)
Not filing a tax return using the filing status Married Filing Separately
Not being claimed as a dependent by another person
Have health insurance through the Health Insurance Marketplace
Are not able to get affordable coverage through an eligible employer-sponsored plan that provides minimum value.
Do not qualify for coverage through a government program

This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.

Tip adapted from IRS⁹

Footnotes and Sources

^{IRS.gov, May 29, 2025}

Securities and advisory services offered through J.W. Cole Financial, member FINRA, SIPC and a Registered Investment Advisor. J.W. Cole Financial and Ramsay Capital Group, Ltd. are separate and unrelated companies.

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