How can Texans maximize tax credits and cost-sharing reductions for health insurance?
Health InsuranceDec 27, 2024 | Lauren Turner, Corpus Christi, Texas
How do I take advantage of cost-sharing reductions and tax credits for health insurance in Texas?
As a resident of Texas, how can I take advantage of cost-sharing reductions and tax credits for health insurance? What steps should I follow, what eligibility criteria do I need to meet, and where can I find the resources to apply?
Answer
Head of Insurance, MoneyGeekUpdated December 27, 2024
When you fill out your application, make sure to fill out all parts of the forms completely. HealthCare.gov will notify you if you qualify for either a tax credit to lower your monthly premium or the extra "cost-sharing reduction" (CSR), which can lower your deductible, copayments and/or co-insurance if you enroll in a Silver Health plan. American Indians and Alaska Natives can also qualify for further cost-sharing reductions.
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