Premium Tax Credit Estimator
The Affordable Care Act makes it easier for most people to get health insurance. Based on your income and family size, you may be able to get a premium tax credit or other financial assistance to help pay for your coverage.
Are you eligible?
- An individual with an income under $47,080
- A couple with an income under $63,720
- A family of three with an income under $80,360
- A family of four with an income under $97,000
- A family of five with an income under $113,640
Don't think you're eligible? The income limits might surprise you. For example, if you have a family of 4 and make $95,400 or less a year, you may qualify for a health insurance premium tax credit.
If you didn't get a premium tax credit last year, be sure to check again. The tax credit calculation is updated each year. You also may qualify for more if you experienced any of these life events:
- You got married or divorced
- You had or adopted a child
- Your income decreased
- You lost your government or employer-sponsored insurance
To get a health insurance premium tax credit, you must buy an on-exchange plan that meets the Affordable Care Act's minimum essential coverage guidelines. You can buy your on-exchange plan from Blue Cross and Blue Shield of Illinois and choose to apply the premium credit. You can also enroll on Get Covered Illinois, the Official Health Marketplace or through a health insurance agent.
The premium tax credit is not available if you can get insurance through your job. The premium tax credit can be paid straight to your insurance company. This lowers the amount you will owe on your health insurance premium each month. Learn how this may affect your tax return.
Use our premium tax credit estimator to see how much help you may get. You will be able to see your official premium tax credit amount when you enroll for coverage.