Data / Federal rules / 2024-29651
Definition of the Term “Coverage Month” for Computing the Premium Tax Credit
The Internal Revenue Service published this final rule in the Federal Register on December 18, 2024. It took effect on December 18, 2024.
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What the agency says
This document contains final regulations that amend the definition of "coverage month" and amend certain other rules in existing income tax regulations regarding the computation of an individual taxpayer's premium tax credit. The coverage month amendment generally provides that, in computing a premium tax credit, a month may be a coverage month for an individual if the amount of the premium paid, including by advance payments of the premium tax credit, for the month for the individual's coverage is sufficient to avoid termination of the individual's coverage for that month. The final regulations also amend the existing regulations relating to the amount of enrollment premiums used in computing the taxpayer's monthly premium tax credit if a portion of the monthly enrollment premium for a coverage month is unpaid. Finally, the final regulations clarify when an individual is considered to be not eligible for coverage under a State's Basic Health Program. The final regulations affect taxpayers who enroll themselves, or enroll a family member, in individual health insurance coverage through a Health Insurance Exchange and may be allowed a premium tax credit for the coverage.
Key facts
- Document number
- 2024-29651
- Type
- Final rule
- Action
- Final regulations
- Agency
- Treasury Department; Internal Revenue Service
- Published
- December 18, 2024
- Takes effect
- December 18, 2024
- Dates
- Effective date: These final regulations are effective on December 18, 2024.
- Docket
- TD 10019
- Regulation ID (RIN)
- 1545-BR31
- Code of Federal Regulations
- 26 CFR 1
- Topics
- Income taxes; Reporting and recordkeeping requirements
- Pages
- 6
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Everything from the Internal Revenue Service · Rules on income taxes · Rules on reporting and recordkeeping requirements · Published in December 2024
Read from the Federal Register API, last updated 2026-10-24. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.