Other Credits
Question: What is the Health Coverage Tax Credit and how can I learn more about it?
Answer:
The health coverage tax credit (HCTC) is a refundable tax credit that pays 72.5% of qualified health plan premiums for certain trade-affected workers, retirees, and their families. From May 1, 2009 through December 31, 2010 the HCTC paid 80% and from January 1, 2011 through December 31 2011 the HCTC paid 65% of the qualified health plan premiums.
The HCTC is a unique tax credit that eligible individuals can receive either monthly as their health plan premium becomes due or yearly on their federal tax return. You can learn more about this valuable tax credit, including who is eligible for the credit, on the Health Coverage Tax Credit (HCTC) Program pages on this website.
Category: Child Care Credit, Other Credits
Subcategory: Other Credits
