NYS OF HEALTH CALCULATOR LICENSE
She earned her nursing degree in 1990 from Jacksonville State University, obtained her insurance billing and coding certification in 1995, and holds a health and life insurance license in Alabama, Georgia, Iowa, Mississippi, and Tennessee.
Tammy Burns is an experienced health insurance advisor. However, unlike premium credits, which are available for any metal level of coverage ― Bronze, Silver, Gold, or Platinum ― cost-sharing credits are only available under Silver plans to make the actuarial value more like a Gold or Platinum plan. Those with lower incomes will receive more generous subsidies than those with higher incomes. Like premium credits, cost-sharing credits work on a sliding scale based on income.
Cost-sharing credits reduce your responsibility for other out-of-pocket expenses, such as deductibles, copayments, and coinsurance.The lower the income, the higher the subsidy. The amount of the credit is based on estimated income for the coming year. The advance premium tax credit (APTC) option pays 1/12 of the credit directly to the insurance provider every month, thereby reducing the amount you must pay. You have the option to have the credit paid in advance directly to the plan insurer every month or claim the credit later in a tax return. Premium credits are applied toward your monthly premium payments for plans purchased through the marketplace to reduce the cost.Generally, there are two types of healthcare subsidies: premium credits and cost-sharing credits:
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