Health Insurance Premium Tax Credits

Hello everyone:

I received this email concerning the federal extension of health insurance premium tax credits. It may help some of you with your insurance costs;

"Dear Legislators,

As you may already know, the Inflation Reduction Act, passed by Congress last month, included an extension of subsidies for health insurance premiums for eligible Vermonters through 2025. We are trying to get the word out about these premium tax credits which are currently helping over 23,000 Vermonters and have the potential to help more (even for the remainder of 2022).

The GMCB has a summary page on our website that links to key resources from Vermont Health Connect and the Health Care Advocate: The most important takeaway is that Vermonters who buy their own individual or family health insurance plans need to sign up through Vermont Health Connect (not directly through BCBSVT or MVP) to be eligible for the tax credits. We are encouraging anyone who buys their own health insurance to check out the Vermont Health Connect Plan Comparison Tool to see if they qualify. The summary page on our website has further details and frequently asked questions.

If you have any questions, please feel free to reach out. I hope you will help us spread the news about this important financial help for Vermonters!

Susan J. Barrett, J.D. (she/her)
Executive Director
Green Mountain Care Board"