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: Where can I get information on how to claim my HCTC?
A: For information about HCTC, including FAQs and eligibility, visit the IRS page: Health Coverage Tax Credit.
Q: What health insurance coverage qualifies for HCTC?
A: For information about health insurance coverage that qualifies for HCTC, visit the IRS pages: Health Coverage Tax Credit and Questions and Answers on Qualified Health Insurance Plans for 2016 Health Coverage Tax Credit Eligibility.
Q: Do I need an official letter of eligibility from PBGC to claim my HCTC?
A: The IRS will accept a copy of your tax form 1099-R issued by PBGC in lieu of the letter of eligibility from PBGC for the year that you are claiming HCTC.
Note: Form 1099-R shows information on distributions from pensions, annuities, retirement or profit-sharing plans, etc.
Q: How can I obtain another copy of my tax form 1099-R?
A: If you have a MyPBA account with PBGC, you can log in to your account to view and print your Form 1099-R.
If you don't have a MyPBA account, call the PBGC Customer Contact Center for assistance at 1-800-400-7242 (8 a.m. to 7 p.m. ET, Monday-Friday, except federal holidays). You can request a copy of your 2014 and 2015 1099-R forms, which will be mailed to you within four business days.
The 2016 1099-R will be mailed to you before February 1, 2017.
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, Amended U.S. Individual Income Tax Return. 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 should contact the IRS for information by calling the IRS HCTC line at 1-844-853-7210.
Q: How do I claim HCTC for 2016?
A: To claim HCTC for 2016, you must file Form 8885, Health Coverage Tax Credit, with your 2016 federal income tax return. For more information, visit the IRS page: Claiming the Health Coverage Tax Credit for Tax Year 2016.
Q: What is the Advance Monthly Program (AMP)?
A: Under AMP, the IRS will pay a portion of your healthcare premium on a monthly basis.
For more information, see the IRS's Enrolling in 2017 Advance Monthly Payments of the Health Coverage Tax Credit and Questions and Answers about enrolling in 2017 Advance Monthly Payments of the Health Coverage Tax Credit.
It's helpful for AMP enrollees to include the most recently available Form 1099-R issued by PBGC with your AMP enrollment form.
Last Updated: December 21, 2016