What is a premium?
A premium is a monthly payment to your provider for health insurance. Just like rent or a streaming service, you keep your plan active by paying for it each month. While premiums can be expensive, it’s important to have health insurance, because healthcare without insurance is far more expensive - medical bills are the leading cause of bankruptcy in the US. Paying your premium keeps you covered.
Most people can save money on their premiums
You could save hundreds of dollars every month on your health insurance payments thanks to tax credits. The government helps lower people’s premiums through what’s called advanced premium tax credits, which come in the form of a discount to your monthly premium.
If you’re one of the millions of people who get insurance through your state or the federal marketplace, credits are available to you. 9 out of 10 people with marketplace plans qualify, and the average savings is $486 per month.
However, the credits aren’t automatic. If you don’t apply, you won’t receive them, even if you’re eligible. That’s where Catch has your back. Catch can walk you through the process, file your information, and get you saving money.
How to lower your payments
Credits are only available through government marketplaces (healthcare.gov and state websites) or through official exchange partners like Catch. You can complete and send tax form 8962, or you can let Catch do it for you in under two minutes with Premium Slasher. Catch can tell you if you qualify, calculate your monthly savings, and file your updated information with the government and your insurance provider.