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;
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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.
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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.
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Examples of Advanced Premium Tax Credit in a sentence

  • For Members who enroll outside of the Exchange, you or your Dependent may only enroll in any Health Plan if newly ineligible for Advanced Premium Tax Credit or newly ineligible for cost-sharing reductions.

  • Information is needed on the government’s exposure and risks associated with deposit insurance, pension insurance, and flood insurance.

  • If you or your Dependent become newly ineligible for Advanced Premium Tax Credit, you or your Dependent may change to a Qualified Health Plan of any metal level, if you or your Dependent elect to change Qualified Health Plan enrollment.

  • In the event you are receiving an Advanced Premium Tax Credit, the grace period (described above) for individuals receiving an Advanced Premium Tax Credit (described above) has been exhausted.

  • In the event you are receiving an Advanced Premium Tax Credit, you have a three‐month grace period, or such other grace period, if any, permitted by applicable law or regulatory guidance for paying the full premiums falling due after the first premium.

  • After the grace period, coverage under this Policy will automatically terminate on the last day of the coverage period for which premiums have been paid, unless coverage is extended as described in the next paragraph.In the event you are receiving an Advanced Premium Tax Credit under the Affordable Care Act, you have a three‐month grace period for paying the full premiums falling due after the first premium.

  • In the event you are receiving an Advanced Premium Tax Credit, you have a three-month grace period, or such other grace period, if any, permitted by applicable law or regulatory guidance for paying the full premiums falling due after the first premium.

  • 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.

  • When Blue Cross and Blue Shield does not receive the premium payment on time or when there is a bank draft failure of premiums for your and/or your eligible dependents' coverage, and • In the event you are receiving an Advanced Premium Tax Credit, the grace period (described above) for individuals receiving an Advanced Premium Tax Credit (described above) has been exhausted.

  • However, Advanced Premium Tax Credit and Cost‐Sharing Reductions, if applicable, are not effective until the first day of the following month, unless the birth, adoption, placement of a foster child or placement for adoption occurs on the first day of the month.


More Definitions of Advanced Premium Tax Credit

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.
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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;
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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.

  • Advanced computing means any technology used in the design and development of 1 or more of the following:

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • 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 means a payment that a federal awarding agency or passthrough entity makes by any appropriate payment mechanism, including a predetermined payment schedule, before the non-federal entity disburses the funds for program purposes.

  • Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.

  • 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.

  • Insurance premium finance company means a person engaged in the business of

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

  • Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

  • Premium Rate has the meaning assigned to such term in the Premium Letter.