Do the premium tax credits reduce the cost of health insurance?

Published 11/06/2014 08:47 AM   |    Updated 11/06/2014 08:47 AM
Do the premium tax credits reduce the cost of health insurance?

Premium tax credits reduce the amount of money that you have to pay towards premium. They are determined based on your household income and the number of members in your household. Premium tax credits do not reduce the overall cost of health insurance. The remainder of the premium is paid to the insurance company by the federal government.

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