Poll: Are you taking adv. of the Health Coverage Tax Credit

This is the place to talk about all healthcare related items.

Did you take advantage of the HCTC in 2019

Yes
4
80%
No, because I was not aware of it
0
No votes
No, because I am on Medicare.
1
20%
 
Total votes : 5

Poll: Are you taking adv. of the Health Coverage Tax Credit

Postby Dave » Sat Aug 29, 2020 5:33 pm

If you are not on medicare (i.e., under age 65) you should know there is a little known law which allows former Avaya employees who have an AV pension which allows you to get a tax CREDIT (not a deduction) for 72.5% of your insurance premiums. We became eligible for this when the pension was taken over by the government.

This is HUGE for people who are not on medicare. You are not eligible if you are on Medicare.

Just wondering how many people in our community are taking advantage of it.
Dave
 
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Re: Poll: Are you taking adv. of the Health Coverage Tax Cre

Postby tcofran@comcast.net » Sat Aug 29, 2020 6:48 pm

Yes. Our last year for the credit was for 2019. No longer eligible as I started Medicare and my wife's COBRA plan ran out. But it is a great tax credit when you are eligible as long a Congress continues to extend this credit.
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Re: Poll: Are you taking adv. of the Health Coverage Tax Cre

Postby bdbutterfield » Sat Aug 29, 2020 7:03 pm

Yes. Every since I was eligible.
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Re: Poll: Are you taking adv. of the Health Coverage Tax Cre

Postby Dave » Sat Aug 29, 2020 8:22 pm

According to the IRS, congress did extend it for 2020.

For those of us able to take advantage of the HCTC it is too bad Avaya didn't declare bankruptcy years earlier. From looking at their books it was pretty obvious they were headed for bankruptcy and I predicted it years before they finally did it.
Dave
 
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Re: Poll: Are you taking adv. of the Health Coverage Tax Cre

Postby mlhearn » Sat Aug 29, 2020 9:03 pm

Yes, been taking advantage of HCTC from the moment Avaya claimed bankruptcy. At the moment, this is the last year it is available, so contact your congress critters to extend HCTC for another year or more.

The HCTC was set to expire last year, but a push from a couple of Ohio senators (as well as one of the Bill's originators, Bernie Sanders) was able to get the bill extended for another year, 2020. This was originally added by Bernie (and someone else) as part of Clinton's worker protection additions to Bush's NAFTA bill, to protect employees who might lose jobs or pensions. At least that is the way I remember it. (btw, I am not a Bernie supporter but appreciate the HCTC).

Please ask your Senators and Congressmen to extend HCTC for your fellow Avayans. A bunch of us Avayans sent letters last year, I can try to find them if you want examples.
mlhearn
 
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Re: Poll: Are you taking adv. of the Health Coverage Tax Cre

Postby dlbritton » Sun Aug 30, 2020 10:09 am

No, I retired from my post Avaya job at age 63 but my wife is a legacy AT&T retiree so I was able to pick up coverage under her. Now that I'm on medicare I still get most of my medi B premium reimbursed. She got screwed with the AT&T cash balance pension but the post retirement insurance benefit has been nice.
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Location: Piedmont NC


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