A: Also known as an Advanced Premium Tax Credit, this tax credit can be used to lower the health insurance premium costs of Washington Healthplanfinder Qualified Health Plans. If you are eligible, this tax credit provides you the option to either reduce the amount of your monthly health insurance
premium; or have a lump sum deduction when you file your annual income tax return.
Your Health Insurance Premium Tax Credit is dependent on your household modified adjusted gross income. The household income and tax filing information you provide in your Healthplanfinder application will determine how much tax credit you are eligible for. Any income changes should be reported to Washington Healthplanfinder in order to make a re-determination of your eligibility.