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Premium Tax Credits

A new kind of advanceable tax credit used to pay for an insurance plan purchased through the new state Health Insurance Marketplaces. You may be eligible for this tax credit depending on your income and the type of plan you purchase. Unlike other tax credits that you use only when filing your taxes, these tax credits can be used upfront to lower the cost of your monthly insurance premium. Find out if you are eligible by filling out an application on your state marketplaceā€™s website.