Health Care Tax Credit (HCTC)
The Trade Act of 2009 increased the tax credit to 80% of the cost of a health plan premium for eligible individuals and qualified family members who are enrolled in qualified health plans. Tax credits may be advanced or claimed at the end of the year. Eligible individuals include TAA participants receiving weekly TRA benefits, those who are eligible to receive TRA but are still receiving their Unemployment Insurance compensation and Reemployment Trade Adjustment Assistance participants. To qualify for benefits, you must have been laid off from a TAA certified company or receive pension benefits from the Pension Benefit Guaranty Corporation (PBGC) and covered by the qualified health plan for at least 30 days. For more information got to: www.irs.gov , keyword HCTC
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