Health Coverage Tax Credit (HCTC)
On June 29, 2015, President Obama signed legislation to extend the HCTC through the end of 2019. HCTC is an IRS tax credit for health care insurance premiums, which may apply to certain individuals who are 55–65 years of age and are receiving benefits from PBGC.
Frequently Asked Questions
Q: Do I need an official letter of eligibility from PBGC to claim my Health Coverage Tax Credit?
A: IRS will accept a copy of your tax form 1099-R in lieu of the letter of eligibility from PBGC for the year where you are claiming HCTC.
Q: How can I obtain another copy of my tax form 1099-R?
A: Your 2015 tax form 1099-R will be available on MyPBA beginning on February 2, 2016.
If you don't have a MyPBA account, call the PBGC Customer Contact Center for assistance at (800) 400-7242 (8 a.m. to 7 p.m. ET, Monday-Friday, except federal holidays). A copy of your 2014 1099-R form will be mailed to you within four business days. The 2015 1099-R will be mailed to you before February 1, 2016.
Q: How do I claim HCTC for 2014?
A: To claim HCTC for 2014, you must file an amended return for 2014 using form 1040X. For more information, visit the IRS page: Questions and Answers on Amending a Tax Year 2014 Return to Claim the Health Coverage Tax Credit.
Q: How do I claim HCTC for 2015?
A: To claim HCTC for 2015, you must file Form 8885, Health Care Tax Credit, with your 2015 income tax return. For more information, visit the IRS page: Claiming the Health Coverage Tax Credit for Tax Year 2015.
Q: How do I claim HCTC for 2016?
A: At this time, the mechanism to claim HCTC for 2016 has not yet been implemented by IRS. For more information about HCTC in 2016, visit the IRS page: Questions and Answers on Qualified Health Insurance Plans for 2016 Health Coverage Tax Credit Eligibility.
Q: How can I schedule a face-to-face appointment for assistance about the HCTC and/or obtain the forms to file an amended tax return to claim my HCTC?
A: You may visit one of their Taxpayer Assistance Centers for face-to-face assistance.
Q: Where do I mail tax forms claiming the HCTC credit?
A: To claim HCTC for 2014, mail your amended return to:
Department of Treasury
Internal Revenue Service
Austin, TX 73301-0215
To claim HCTC for 2015, mail your 2015 tax return to the address specified in IRS instructions.
Q: Where can I get more information on how to claim my HCTC?
Last Updated: September 26, 2016