What are Advance Premium Tax Credits?
Advance Premium Tax Credits (APTCs) are tax credits you can take in advance to lower your monthly health insurance payment, known as your premium. This type of financial assistance is based on your family size and income, and is only available to people who don’t get affordable health coverage offered through their employer.
If you are eligible for APTCs, the money will go directly to the insurance company, and you will pay less money each month for your health insurance.
The amount of APTC you receive is based on your estimated income for the year ahead. It’s important to make sure you make updates at CoverME.gov if your income changes, to avoid having to repay any overpayment of APTC when you file your taxes.
Health/ACA
- Explore Your Under 65 Health Insurance Options For Maine
- Understanding the Affordable Care Act (ACA) – also known as: Obamacare, Marketplace, CoverME.gov
- Understanding Premium Tax Credits
- Understanding Cost Share Reductions
- Types of Individual Health Insurance Plans in Maine
- Learn More About HSA Accounts
- Health Insurance – Other Considerations
- Helping You Decide and Navigate
- Getting Started with CoverME