Health Coverage Tax Credit (HCTC) Extended

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The Health Coverage Tax Credit (HCTC) has been extended for all 2020 coverage months. Individuals who had previously been enrolled in the HCTC Advance Monthly Program had been notified in writing that the HCTC was expiring at the end of 2019. Subsequently, all individuals were removed from the HCTC Advance Monthly Program.

Individuals can contact their insurers to be re-enrolled in HCTC eligible coverage. In addition, individuals previously enrolled in the HCTC Advance Monthly Program must submit a new Form 13441-A, HCTC Monthly Registration and Update to reenroll in the program.

Alternatively, individuals can claim the HCTC on their Federal individual income tax filed in the following year by filing Form 8885, Health Care Tax Credit.

Visit the IRS website for more information on the HCTC, participant’s next steps, and eligibility.

Categories: Benefits in General, Compliance | Tags: Health Coverage Tax Credit , HCTC , 2020 , Form 8885 , HCTC Advance Monthly Program | Return