Advanced Premium Tax Credit definition

Advanced Premium Tax Credit or "APTC" means payment of the tax credit specified in section 36B of the IRC of 1986 (as added by section 1401 of the ACA) that are provided on an advance basis on behalf of an eligible individual enrolled in a QHP through an Exchange in accordance with section 1412 of the ACA. APTC are not considered Federal Tax Information under 26 U.S.C. § 6103;
Advanced Premium Tax Credit means the tax credit provided by the Affordable Care Act to help you afford health coverage purchased through the Health Insurance Marketplace. Advanced premium tax credits can be used right away to lower your monthly premium costs. If you qualify, you may choose how much advanced premium tax credit to apply to your premiums each month, up to a maximum amount. If the amount of advanced premium tax credits you receive for the year is less than the total premium tax credit you're due, you'll get the difference as a refundable credit when you file your federal income tax return. If the amount of advanced premium tax credits you receive for the year is more than the total tax credit that you’re due, you must repay the excess advanced premium tax credit with your tax return.
Advanced Premium Tax Credit means the premium assistance amount determined in accordance with the federal patient protection and affordable care act, P.L. 111-148, as amended by the federal health care and education reconciliation act of 2010, P.L. 111- 152, or federal regulations or guidance issued under the affordable care act.

Examples of Advanced Premium Tax Credit in a sentence

  • An individual may receive provisional eligibility no more than once within a twelve-month period, starting with the effective date of the initial provisional eligibility determination, unless the individual is transitioning from a Qualified Health Plan (QHP) with an Advanced Premium Tax Credit (APTC), or if the individual self-attests pregnancy.

  • Advanced Premium Tax Credit: Financial help that lowers Your taxes to help You and Your family pay for private health insurance.

  • For recipients of the Advanced Premium Tax Credit (APTC) or CA State Premium Subsidy Assistance, upon payment of all outstanding premium amounts at any time before the expiration of the federal grace period, The Plan shall reinstate the APTC member’s coverage pursuant to the plan contract and immediately update its real time eligibility and verification system to reflect an "active" status.

  • If you receive an Advanced Premium Tax Credit (APTC) and you fail to pay in full all Premiums due within three months of the date they are due, then CGHC may terminate your coverage as of the last day of the first month of the applicable grace period.

  • Indicate whether or not you have received a Premium Tax Credit or Advanced Premium Tax Credit Tax Credit for your health insurance.

  • Federal tax regulations prohibit anyone that is eligible for Medicare to also receive an Advanced Premium Tax Credit (APTC) for the purchase of private insurance.

  • Issuers must adhere to the requirements in 45 C.F.R. §156.270 in determining grace period and termination procedures due to non-payment of the premium for enrollees receiving Advanced Premium Tax Credit (APTC).

  • If you receive a code FF on your W-2 for an employer reimbursement of medical expenses you need to calculate if you were still eligible for any APTC (Advanced Premium Tax Credit).

  • Income and deductions may be counted differently between Modified Adjusted Gross Income (MAGI) Medi-Cal (MC) and Advanced Premium Tax Credit (APTC).

  • If you receive an Advanced Premium Tax Credit (APTC) and you fail to pay in full all Premiums due within three months of the date they are due, then we may terminate your coverage as of the last day of the first month of the applicable grace period.


More Definitions of Advanced Premium Tax Credit

Advanced Premium Tax Credit means payment of the tax credits specified in section 36B of the Internal Revenue Code of 1986 (as added by section 1401 of the Affordable Care Act) which are provided on an advance basis to an eligible individual enrolled in a QHP through an Exchange in accordance with sections 1402 and 1412 of the Affordable Care Act;
Advanced Premium Tax Credit has the meaning stated in 45 CFR §155.20.] “Active carrier business agreement” means the latest iteration of the carrier business agreement provided by the Exchange, signed by the Exchange and the carrier and on file with the Exchange.

Related to Advanced Premium Tax Credit

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.

  • Input Tax Credit means the credit of input tax;

  • Premium surcharge means a payment required from a subscriber, in addition to the subscriber's medical premium contribution, due to an enrollee's tobacco use or an enrolled subscriber's spouse or state registered domestic partner choosing not to enroll in their employer- based group medical when:

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • State premium tax liability means any liability

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Base premium rate means, for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Allowable Charge means the amount from which the carrier's payment to a provider for any

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act;

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Premium Loading means the additional premium on top of the Standard Premium charged by the Company to the Policy Holder according to the additional risk assessed for the Insured Person.

  • Tax Credit means a credit against, relief or remission for, or repayment of any Tax.

  • Premium Amount The amount of premium due to the Note Insurer in accordance with the terms of the Insurance Agreement.

  • Advance Payment shall have the meaning set forth in Clause 19.2; “Affected Party” shall have the meaning set forth in Clause 21.1;

  • Applicable Monthly Payment For any Mortgage Loan (including an Outside Serviced Mortgage Loan) with respect to any month (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment; provided, however, that for purposes of calculating the amount of any P&I Advance required to be made by the Master Servicer or the Trustee, notwithstanding the amount of such Applicable Monthly Payment, interest shall be calculated at the Mortgage Rate less the Servicing Fee Rate and, if applicable, shall be exclusive of Excess Interest; and provided, further, that for purposes of determining the amount of any P&I Advance, the Monthly Payment shall be as reduced pursuant to any modification of a Mortgage Loan pursuant to Section 3.24 of this Agreement or pursuant to the applicable Outside Servicing Agreement, or pursuant to any bankruptcy, insolvency, or other similar proceeding involving the related Mortgagor.

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • Medicare Levy Surcharge means an extra charge payable by high income earners beyond the standard Medicare Levy if they do not have qualifying private hospital insurance coverage. This charge is assessed as part of an individual or family’s annual tax return.

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Default Management Charge has the meaning given to it in paragraph 6.2 of Framework Schedule 9 (Management Information);

  • Finance charge means that term as defined in section 106 of the truth in lending act, 15 USC 1605.

  • Premium Rate means any set fee regularly paid by a subscriber to a health insuring corporation. A "premium rate" does not include a one-time membership fee, an annual administrative fee, or a nominal access fee, paid to a managed health care system under which the recipient of health care services remains solely responsible for any charges accessed for those services by the provider or health care facility.

  • Advanced life support means functional provision of advanced airway management, including intubation, advanced cardiac monitoring, manual defibrillation, estab- lishment and maintenance of intravenous access, and drug therapy.

  • Workout-Delayed Reimbursement Amount As defined in subsection (II)(i) of Section 3.05(a).