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The federal Health Coverage Tax Credit was created by the Trade Act of 2002 to help certain displaced workers and certain retirees pay for health insurance.
Generally, those eligible to claim the credit fall into one of two categories:
About half are trade-impacted workers who have lost their jobs because of increased imports or a shift in production to another country and are classified as Trade Adjustment Assistance (TAA) or Alternative Trade Adjustment Assistance (ATAA) eligible.
The other half are individuals whose pensions are being paid by the Pension Benefit Guaranty Corporation (PBGC), are at least 55 years of age and not entitled to Medicare.
The credit covers 65 percent of the cost of qualified health insurance for eligible individuals and their qualified family members. To receive the HCTC an individual must be enrolled in a qualified health insurance plan. Some individuals may already be enrolled in a form of insurance that is automatically qualified such as COBRA continuation coverage, certain spousal coverage or individual (non-group) health insurance coverage that began at least 30 days prior to separation from employment. Additional qualified individual plans may be available depending on the state where the eligible individual lives. Information about state qualified health plans is available on IRS.gov, enter keyword HCTC.
IRS.Gov
Health Coverage Tax Credit Overview
Treasury Press Release Search on The Health Coverage Tax Credit
Eligibility
CA Kaiser is the only one qualified IRS.Gov
They do not use Brokers for this program. Please call them DIRECTLY @ 1-800-464-4000
Health Insurance Info. Net
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