Get Lower Costs with a Premium Tax Credit

You might remember vocabulary lessons from grade school, but here’s one important term you may not have had to learn until just recently: “premium health insurance tax credit”.  Also referred to as a “health insurance subsidy”, a premium tax credit is financial assistance to help those who qualify pay for health insurance.  With open enrollment around the corner, don’t lose your premium tax credit for your health plan.
Calculate a premium tax credit
Has the size of your income and household – like having a baby changed?  Update your information by December 15! These factors can impact your health plan choices and premium tax credit (or health insurance subsidy), giving you an opportunity to get help paying for health insurance. We can help you through the process so you can get an up-to-date calculation from the government.

Here are five steps to help guide you

  1. Look for a letter from your insurance company about how your benefits and costs may change next year. 

  2. Log in to www.healthcare.gov to update your financial and household information to be sure you get the correct financial assistance in 2017, even if you are keeping the same plan.  

  3. Compare your present plan with other plans that are available in your area.

  4. Select the health plan that best fits your budget and health needs .

  5. If you decide to go with a new plan, enroll by December 15 to have any changes take effect on January 1.


Something to keep in mind when applying for a premium tax credit—if you are eligible for assistance, you must purchase your plan through the health insurance marketplace.  This is to ensure your credit is applied to your plan correctly.

When checking plans, consider:

  • Are there more affordable plans on hand this year that weren’t an option last year?
  • Are you happy with the changes to your current plan?
  • Are your doctors in the plan’s network ? For BCBSTX plans, you can use our Provider Finder  to check.
  • Will your prescriptions  be covered?
  • Are you eligible to have lower costs on your health insurance? Check first with our subsidy calculator!

If you're ready, start shopping now or if you have questions or would like to enroll in a BCBSTX plan by phone, call 888-731-0383.

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