When you buy health insurance coverage in the Marketplace, you may be able to get a premium tax credit that lowers what you pay in monthly premiums. This will depend on your household size and income.
How To Save On Out-of-Pocket Costs
When you enroll in health insurance through the Marketplace, you may be able to save money on out-of-pocket costs (co-pays, deductibles, co-insurance). These are the costs you have to pay when you get care. The extra savings you might qualify for is sometimes called “cost-sharing reductions.” Whether you qualify for “cost-sharing reductions” will depend on your income and household size.
*If your income qualifies you for out-of-pocket savings (cost sharing), you must choose a Silver plan to get the savings.
Is There A Penalty For Not Having Health Insurance?
For plan years through 2018, if you have insurance from a job (or a family member’s job), you're considered covered under the health care law and may not have to pay the penalty that uninsured people must pay.
Starting with the 2019 plan year (for which you’ll file taxes in April 2020), the fee no longer applies.