How Premium Tax Credits Lower Your Healthcare Costs

Health insurance can be expensive, but if you apply through MNsure, you may qualify for help paying your monthly premium. This assistance comes in the form of a premium tax credit.

What Is a Premium Tax Credit?

It’s a type of financial assistance that lowers the amount you pay each month for your health insurance plan. The amount you receive depends on your household income and family size.

How Does It Work?

• When you apply for coverage, MNsure checks your eligibility.

• If you qualify, you can choose to have the tax credit applied right away to lower your monthly bill.

• Or, you can wait and claim it as a refund when you file your taxes.

Example

Let’s say your monthly premium for a Silver plan is $600. With a $400 premium tax credit, you’d only pay $200 per month out of pocket.

Who Qualifies?

Most Minnesotans with incomes between 100% and 400% of the federal poverty level qualify. Even families earning higher incomes may still be eligible depending on current federal rules.

Why Apply Through MNsure?

These tax credits are only available if you apply through MNsure, not if you buy directly from an insurance company.

👉 Need help? Briva Health Navigators are here to walk you through every step at no cost. Schedule an appointment today and secure the coverage you deserve.