The Health Coverage Tax Credit, or HCTC, is a federal tax credit program that the IRS administers. The program pays 80% of qualified health insurance premiums. As a retiree receiving a benefit from the PBGC, you may be eligible to participate in the program.
To be eligible, you must be between the ages of 55 and 65, you must have a qualified health plan, and you cannot be a dependent on another person’s federal tax return or enrolled in Medicare, Medicaid, the Federal Employees Health Benefits Program, or the US Military Health System.
For more information about the HCTC Call: 1-866-628-4282; TDD/TTY callers, please call 1-866-626-4282 or go to the IRS website, www.irs.gov. Search by using the keyword - HCTC.