Premium Tax Credit Explained

Almost everyone is required to be insured or pay a penalty as part of Obamacare.  Unfortunately, this created a substantial financial burden for lower-income families.  So, in order to alleviate this situation, Obamacare included a subsidy, referred to as the premium tax credit (PTC), to help them pay the cost of the insurance which is based on family size, household income in relationship to the federal poverty. (more…)