The amount of the marketplace tax credit is based on the premium for the benchmark plan in the exchange, the household income, and the number of people in the household. The benchmark plan is the second-lowest cost silver plan in the exchange. The credit is calculated so that it covers a certain percentage of the premium for the benchmark plan, based on household income. For example, a household with an income of 100-400% of the federal poverty level would get a credit that covers 73% of the premium for the benchmark plan. A household with an income of 400-600% of the federal poverty level would get a credit that covers 87% of the premium for the benchmark plan.
