What is the Health Insurance Marketplace?

The Health Insurance Marketplace, also called simply the Marketplace, is the place where you will find information about private health insurance options, purchase health insurance, and obtain help with premiums and out-of-pocket costs if you are eligible. The Department of Health and Human Services administers the requirements for the Marketplace and the health plans offered.

Generally, you purchase health insurance at the Marketplace during an open enrollment period. After an open enrollment period is over, individuals who experience certain life events may qualify for a special enrollment period to buy a health plan through a Marketplace.

For purposes of the Premium Tax Credit, your “family” consists of yourself, your spouse if filing jointly, and all other individuals whom you claim as dependents.

For tax years 2021 through 2025, Congress temporarily expanded eligibility for the Premium Tax Credit by eliminating the requirement that a taxpayer’s household income may not be more than 400 percent of the federal poverty line. Under this rule, taxpayers with a household income of more than 400 percent of the federal poverty line for their family size may be allowed to claim a Premium Tax Credit on Form 8962, if otherwise eligible.