Individual Health Care Mandate and Premium Tax Credit
For 2019, the penalty for not having minimal essential health coverage has been repealed. The premium tax credit for taxpayers with marketplace plans depends on household income and other factors. If you claim the credit in advance, you must reconcile what you already applied toward your premiums with what you are entitled to; the difference is reported on your tax return.
It is important to note that the premium tax credit computation for a calendar year is based on projected income for that calendar year. For example, if your 2019 income is higher than what you estimated when you applied for 2019 coverage and you received an advance premium tax credit, it is possible that you will have to repay all or part of the premium tax credit.