The Affordable Care Act provides that individuals and families may take a tax credit called the ______ to help them purchase health insurance through a health insurance exchange. A. Health insurance tax deduction B. Modified Adjusted Gross Income (MAGI) Credit C. Health Insurance Premium Tax Credit D. American Opportunity Tax Credit

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12-01-2022
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The Affordable Care Act provides that individuals and families may take a tax credit called the ______ to help them purchase health insurance through a health insurance exchange. A. Health insurance tax deduction B. Modified Adjusted Gross Income (MAGI) Credit C. Health Insurance Premium Tax Credit D. American Opportunity Tax Credit

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Tundexi Tundexi · Answer 1 · 2022-01-25T09:55:11+01:00

The Affordable Care Act provides that individuals and families may take a tax credit called the Health Insurance Premium Tax Credit to help them purchase health insurance.

What is Affordable Care Act?

The Affordable Care Act was enacted to reduce the cost of health insurance coverage for people who qualify for it.

The law of the Affordable Care Act make provision for premium tax credits and cost-sharing reductions to help the lower-income group.

Hence, the Act provides that individuals and families may take a tax credit called the Health Insurance Premium Tax Credit to help them purchase health insurance through a health insurance exchange.

Therefore, the Option C is correct.