I had $0 income last year, but paid $4086 for Obama care in preimums. Is this not a tax credit for the amount over $300?
The premium tax credit – also known as PTC – is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace. To get this credit, you must meet certain requirements and file a tax return.
You are eligible for the premium tax credit if you meet all of the following requirements. You:
For more information about these eligibility requirements see Eligibility for the Premium Tax Credit.
When you enroll, the Marketplace will determine if you are eligible for advance payments of the premium tax credit, also called advance credit payments. Advance credit payments are amounts paid to your insurance company on your behalf to lower the out-of-pocket cost for your health insurance premiums.
For more information about the Premium Tax Credit, see our Questions and Answers and other guidance.