Today in Radical Personal Finance, we continue our health insurance series by tackling a technical financial planning topic.

Today we discuss the premium tax credit.

I intend to do it in a fairly detailed way.

Explain to you what it is, how it works, and how it can benefit you.

This topic is one that can make a huge difference to your finances. If you are in the low to middle income

classification of income levels. This is the tax credit that was enacted as a

component of the Affordable Care Act,

when it was put in place to help low and middle income people be able to afford health

insurance and its potential benefits are substantial. Welcome to Radical Personal Finance, the show dedicated to providing you with the knowledge, skills,

insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less.

My name is Joshua Sheets and I am your host. Today we tackle this premium tax credit. This is a fun

one and it's a potentially very large one. Somewhat simple, somewhat complex and today

I'm going to give you enough of an overview that I think

you'll feel confident approaching the subject for yourself.

If you think back to how the Affordable Care Act was enacted, there were a couple of things

that were going into play. Number one is that one of the major goals of legislators

was to pass a law that would enable that would reduce the

number of uninsured people basically that was one of the fundamental goals

the idea was that health expenses are too high,

doctor bills are too high, and so everybody needs

some form of health insurance coverage.

And so there are a few ways of skinning this cat.

...