Monthly Saving with A Premium Tax Credit

When applying for coverage in the Health Insurance Marketplace, Croft Insurance can help determine if you qualify for a “premium tax credit” that could potentially lower your monthly payment.

The amount of your premium tax credit has many variables, and depends on your estimated household income and dependents.  Croft Insurance will research this with you.

https://www.healthcare.gov/lower-costs/

Croft Insurance works with you throughout the year to notify the market place of any changes.  It is important to know the eligibility of your tax credit and avoid “reconciling” issues at the end of the year.

• When your income changes, so does your premium tax credit:

If your income changes, or if you add or lose members of your household, your premium tax credit will change too.

• Changes to your income or household:

If you have incurred any changes regarding your income or house hold you would want to notify the market place immediately to avoid any tax penalties at the end of the year. The Croft Insurance team will assist you through the process.