The premium tax credit (PTC) is a refundable credit that helps eligible individuals cover their premiums for health insurance purchased through the Health Insurance Marketplace. A PTC is allowed for months that are considered “coverage months.” Proposed IRS regulations would amend the definition of a coverage month. As proposed, when computing a PTC, a month would be considered a coverage month if the amount of the premium paid for the month is sufficient to avoid termination of the individual’s coverage for that month. The proposed regs would treat the first month of a three-month grace period as a coverage month if other requirements are met. Contact us with questions regarding the PTC.
Our Blog 