JulieS
Expert Alumni

Deductions & credits

No, for the purpose of the Premium Tax Credit, it doesn't matter whether or not you used your insurance. 

 

If your income is more than 400% of the federal poverty line and 8.5% of your MAGI is less than the SLCSP, you are eligible for a Premium Tax Credit to bring down the cost of the SLCSP to 8.5% of MAGI. 

 

The effect of this temporary law is to provide some cost relief for taxpayers whose income is more 400% of the federal poverty line. 

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