A tax credit that can reduce what you pay for health insurance. When you apply for coverage through Maryland Health Connection, you’ll estimate your household income to find out if you qualify for an advance payment of the tax credit that lowers your premium, or monthly payment. You can apply some or all of this tax credit right away to lower your monthly payment. Maryland Health Connection will send your tax credit directly to your insurance company. Or, you can apply all or some of the credit to your annual tax return.