Health insurance & HSAs
The premium tax credit is a federal subsidy that lowers the monthly cost of a health plan bought through the Health Insurance Marketplace. Its size depends on household income relative to the federal poverty level and on the cost of the local benchmark silver plan. It can be paid in advance to the insurer and is reconciled at tax time.
Eligibility and the expected contribution percentages have changed several times through legislation, so agents should confirm the rules for the current plan year on HealthCare.gov or their state exchange rather than relying on last year's training. Overestimating income or missing a change during the year can mean repaying part of the credit.
The ACA premium tax credit calculator does this math with the prospect's own numbers. When it is released, its inputs will be the same ones an exchange application asks for, household size, expected income and location, so a lead will tell an ACA-certified agent most of what the enrollment conversation needs.
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