Health Coverage Tax Credit

Based on the recent legislation that was passed, the following changes will be made to the Health Coverage Tax Credit (HCTC) Program.

• The tax credit has increased from 65% to 72.5% and is retroactive back to March 1st, 2011
• The Qualified Family Member (QFM) Program was reinstated back to March 1st, 2011 for those retirees who have been on Medicare for less than 24 months and have eligible family members who could received the HCTC
• VEBAs created by a bankruptcy court or 1114 committee are permanently considered a qualified type of health plan in order to receive the HCTC
• The Monthly Reimbursement program has been reinstated for new enrollees having to make a 100% payment while enrolling in the HCTC Program

Important: On October 21, 2011, the President signed into law the Trade Adjustment Assistance Extension Act of 2011. This bill increases the amount of the Health Coverage Tax Credit and expands the population that is eligible to receive it. The HCTC Office is currently working to determine its effect on eligible taxpayers, as well as those participants currently receiving the monthly tax credit. Updates will be provided on this web site as new information becomes available. In the meantime, we ask that you do not call our Customer Contact Center, as they do not have any additional information regarding this legislation.

Oct 21, 2011 - On Friday, October 21, 2011, the President signed into law: H.R. 2832, the “Trade Adjustment Assistance Extension Act of 2011,” which extends the Generalized System of Preferences program through July 31, 2013, and reauthorizes the ...

Oct 18, 2011 - The bill that has been approved by both houses of Congress – H.R. 2832 – extends the authorization of ... The president is expected to sign this bill into law. ...

On October 12, 2011, Congress passed Trade Adjustment Assistance legislation, which is currently awaiting the President’s signature. This bill increases the amount of the Health Coverage Tax Credit and expands the population that is eligible to receive it. The HCTC Office is currently working to determine its effect on eligible taxpayers, as well as those participants currently receiving the monthly tax credit. Updates will be provided as new information becomes available, but in the meantime, the HCTC Program asks that you do not call their Customer Contact Center, as they do not have any additional information regarding this legislation.