Under the Affordable Care Act, you are entitled to a Premium Tax Credit if you purchase health insurance through the Federal or a state marketplace. This video explains the basics of the Premium Tax Credit and shows how it is calculated and reported.

To learn about what to consider when choosing a Marketplace plan, click here:    • Which Marketplace Health Plan is righ...  

Additional Resources and Information:

You can find out all about marketplace health insurance at www.healthcare.gov

IRS Form 8962 "Premium Tax Credit": https://www.irs.gov/pub/irspdf/f8962...

Instructions for Form 8962 (these instructions contain the charts shown in the video): https://www/irs.gov/pub/irspdf/i8962.pdf

IRS Form 1095A: "Health Insurance Marketplace Statement": https://www.irs.gov/pub//irspdf/f109...

IRS Publication 5187: "The Affordable Care Act: What you and your Family Need to Know": https://www.irs.gov/pub/irspdf/p5187...

Investopedia: "Premium Tax Credit for 2021 Taxes": https://www.investopedia.com/premium...

The Tax Geek on Twitter: @taxgeekusa

The Tax Geek on Reddit: www.reddit.com/r/askataxgeek

Image Credits:

The image of "Richard" was generated by thispersondoesnotexist.com and any resemblance between these images and any persons living or dead is coincidental and not intended.

Intro Music: "Bluesy Vibes" Doug Maxwell YouTube Audio Library

Background and Outro Music: George Street Shuffle, Kevin McLeod, http://incompetech.com via YouTube Audio Library

DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional.

The information in this video is current as of date of publication, and is subject to changes enacted by Congress or the IRS.