A premium tax credit is designed to lower the total cost of health insurance plans that are already relatively expensive in the United States. You can either apply the premium tax credit on a monthly basis to your insurance bill or choose to receive your premium tax credit in the form of a refund that is put toward your federal income taxes.
Does it seem like your company's health care spending is equal to the gross national product of a small country? If you have a stake in employee benefits, you know that workforce wellness and benefits plans are changing at a rate faster than most can follow. Switching to a self-funded plan can help. You'll pay only for what you need and use. Zero-premium taxes and lower administration costs can lead to impressive savings.
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