Premium Tax Credits (also known as Premium Assistance) are tax credits that can lower your monthly insurance payment. They are normally available to those between 100% and 400% of the Federal Poverty Line (FPL), but starting in 2021, household incomes higher than 400% may also qualify . The amount you might get awarded is entirely dependent on your household income - for example, a household making $35,000 a year would receive more PTC than a household making $50,000. The only way to get a Premium Tax Credit is through Covered California (or other state/federal marketplace).

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Because Premium Tax Credits are calculated based on household size and income, it is extremely important to update your information on the marketplace if you experience any changes in household size or income (e.g. getting married, divorced, having children, income increases or decreases).