This premium tax credit or PTC assists in covering health insurance premiums (monthly payments) for health plans purchased through a health insurance marketplace, such as TrueCoverage.com, for those who meet certain requirements, such as not having access to employer-sponsored health insurance.
To get this credit, you must file your federal tax return with Form 8962, Premium Tax Credit. If, at the end of the year, you’ve taken more premium tax credit in advance than you’re due based on your final income, you must pay back the excess credit when you file your federal tax return. If you took less tax credit than you qualified, you get the difference back in your federal tax return.