WASHINGTON The Internal Revenue Service has opened the new registration and enrollment process for qualified taxpayers to receive the benefit of the Health Coverage Tax Credit (HCTC) on an advance monthly basis during 2017.
Eligible taxpayers can have 72.5 percent of their qualified health insurance premiums paid in advance directly to their health plan administrator each month. Each payment made on their behalf to the health plan administrator lowers their out-of-pocket premium costs.
Taxpayers may be eligible to elect the HCTC only if they are one of the following:
An eligible trade adjustment assistance (TAA)