This project contains Python source code that calculates for any family the refundable federal income tax credit that subsidizes the health insurance premium of a plan purchased on an Affordable Care Act (ACA) exchange. This is the Premium Tax Credit (PTC) computed on IRS Form 8962. The project goal is to estimate a family's PTC under the assumptions that the family's composition, address, and eligibility for non-ACA health insurance, do not change over the course of the year and that the family's actual income equals expected income at the start of the year, assumptions that eliminate the advanced payment reconciliation logic of Form 8962.
Note that the estimated PTC is actually the maximum PTC available to a family. If a family enrolls in an ACA plan with a total premium that is less than its maximum PTC, the family's actual PTC is capped at that total premium.
For more information on this project read the complete OSPC-ACA project documentation.
This 2015 project was sponsored by the Open Source Policy Center (OSPC).
This project has been used by the OSPC-sponsored benefits project.