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Helpful financial assistance basics
If you qualify for financial assistance, Pennie is happy to connect you with two types that reduce what you pay for health insurance and care: an advanced premium tax credit (APTC) and cost-sharing reductions (CSR).
What’s an advanced premium tax credit?
An advanced premium tax credit (APTC) is a tax credit that lowers your premium, or monthly health insurance payment. When you apply for coverage through Pennie, you’ll estimate your expected income for the year. If you qualify for an APTC, you can use any amount of the credit in advance to lower your monthly payments.
What is my expected household income?
Start with your household’s savings and adjusted gross income(s) — what you expect to earn before taxes — and update it with any changes you expect. Be sure to include all the people in your household and any dependents, whether they need coverage or not.
What’s a cost-sharing reduction?
The cost-sharing reduction (CSR) helps to lower your out-of-pocket costs like deductibles and copayments. If you qualify, you must enroll in a plan in the Silver category to get the extra savings.
How can I find out if I qualify for financial assistance?
Your family size and annual income will be used to determine if you are eligible to receive financial assistance. Depending on your circumstances, it’s possible to qualify for both APTCs and CSRs.
The recently passed American Rescue Plan includes updates that result in significant savings for Pennsylvanians seeking marketplace health coverage and those already enrolled through Pennie.
Have assistance questions?
Still feeling a bit overwhelmed? We've been there too - so we have set up multiple ways of getting some help or guidance.
Pennie’s friendly and experienced Customer Service Representatives are ready to help you with your application or account questions.
Brokers offer free guidance and advice. Only a broker can make recommendations about which plan you should buy.
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