HCTC: Trade Adjustment Assistance Extension Act of 2011
The Trade Adjustment Assistance Extension Act of 2011 increased the amount of the Health Coverage Tax Credit (HCTC) and expanded the population eligible to receive it. The HCTC will expire on January 1, 2014.
- Tax Credit Percentage is 72.5%
- The HCTC helps make health insurance more affordable for eligible individuals and their families by paying 72.5% of qualified health insurance premiums.
- HCTC Eligibility for Qualified Family Members
- Qualified family members of TAA recipients or PBGC payees who enroll in Medicare, pass away, or finalize a divorce, are eligible to receive the HCTC for up to 24 months from the month of the event, or until January 1, 2014, or whichever comes first.
- For more information please visit the qualified family members page.
- Voluntary Employee Beneficiary Associations (VEBAs)
- Health plans through a VEBA established as a result of a former employer’s bankruptcy are qualified for the HCTC.
- Extension of COBRA coverage
- TAA recipients and PBGC payees whose COBRA end date is on or after November 20, 2011 are eligible for COBRA coverage extensions through their former employer.
- TAA recipients are eligible for COBRA coverage extensions for as long as they have TAA eligibility or until January 1, 2014.
- PBGC payees are eligible for COBRA coverage extensions until January 1, 2014. If the payee passes away, their spouse or dependents are able to receive an additional 24 months of COBRA, or until January 1, 2014.
- For instructions on how to extend your COBRA coverage, please visit the Update Your Account Information page.
- TAA recipients and PBGC payees whose COBRA end date is on or after November 20, 2011 are eligible for COBRA coverage extensions through their former employer.
- Reimbursement Requests
- Monthly HCTC participants can request reimbursement for payments made to qualified health plans while they were eligible and enrolling in the monthly HCTC program. For more information please visit the Reimbursement Requests page.
Return to the HCTC Program home page.
Go to the HCTC Quick References page to view a glossary of terms, frequently asked questions, and additional resources.
Page Last Reviewed or Updated: 24-avr.-2013
