The Affordable Care Act requires non-grandfathered health plans in the individual and small group markets to cover what is called EHB (essential health benefits), which include items and ten benefit categories, they are as follows (1)emergency services; (2) hospitalization; (3) ambulatory patient services; 4) maternity and newborn care; (5) mental health and substance use disorder services including behavioral health treatment; (6) prescription drugs; (7) rehabilitative and habilitative services and devices; (8) laboratory services; (9) preventive and wellness services and chronic disease management; and (10) pediatric services, including oral and vision care. More information on this can be found at the CMS website.

Here lies the method that reduces your premium.  This tax credit enables you to take it in advance to lower your monthly health insurance payment (or “premium”). If you qualify for a premium tax credit based on your estimate, you can use any amount of the credit in advance to lower your premium. For more information on this visit the IRS website by clicking here for new tab.

This section under construction, more meaningful questions on the way. Don’t hesitate to let us know your questions as we love researching the answers for members of our community.