PBH 300: Premium Tax Credits Discussion

Premium Tax Credits Discussion
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Premium Tax Credits Discussion
The premium tax credit refers to refundable credit that assists eligible people and their families in ensuring their healthcare. These premium tax credits differ from person to person. The individual who is eligible to access it should contribute money towards buying her health insurance (Fernandez, 2018). In order to be liable for accessing these premium tax credits, the person should meet the requirements such as household income above one hundred percent, enrolled in a plan by the personal exchange, and practice file federal income tax returns.
Cost-sharing subsidies refer to the affordable care act provided to individuals with modest incomes. Any person who is eligible for the premium tax credit is listed in the silver plan. The person who has a yearly household income that lies between 100-250% can benefit from cost-sharing subsidies. There are two categories of cost-sharing subsidies, which are given according to the individual income earnings. These are Authorized and Reimburse insurers cost-sharing subsidies (Fernandez, 2018). The cost-sharing subside's prominent role is to decrease individual costs when receiving treatment in the registered health institutions through silver plan coverage.
Taxes act is perceived as the laws outl...