Tax Credit and Premium Estimator

Feb 27, 2014

You may be able to get help paying for a health plan when you enroll in NY State of Health, the Official Health Plan Marketplace.  Federal tax credits are available to most individuals with income of $45,960 or less or a family of four making $94,200 or less.

Unlike most tax credits, you do not have to wait until you file your taxes to get the credit.   Marketplace premium tax credits allow you to reduce your costs right away.  You have the option to take all or some of the tax credit as an advance payment made directly to your health plan to lower their monthly health plan premium.  Health insurance coverage is more affordable because you will pay less each month.  The Marketplace will tell you if you qualify for assistance and the exact amount when you apply for coverage.

You can use the estimator here to estimate your premium tax credit and see what you could pay for coverage if you purchase a Marketplace health plan.

Resource Type: 
Estimator for Tax Credit and Premium
Audience: 
Brokers
Insurers
American Indian/Alaska Native