HCTC 2022

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HCTC 2022

Postby Administrator » Wed Oct 06, 2021 4:37 pm

Anyone know if the HCTC will be renewed for 2022?
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Re: HCTC 2022

Postby tja5577 » Wed Oct 27, 2021 10:48 am

I have the same question. I searched on HCTC 2022, but found nothing. I hope it gets extended again like it did last year. My premiums are increasing $250 a month next year.
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Re: HCTC 2022

Postby bdbutterfield » Sun Nov 14, 2021 8:27 pm

U.S. Representative Jared Golden sent a letter to Maine Senate Speaker Troy Jackson and House Speaker Ryan Fecteau on Thursday October 21, 2021 where he indicates the Reconcilation Bill (H. R. 5376 )
addresses HCTC. That said I could not find it mentioned in the text of the bill

Below is an excerpt:

I fully support the bill’s improvements to the EITC and HCTC. The proposal would fix long-standing
problems with the EITC that have shortchanged workers without children at home, younger workers,
and workers older than age 64. Without the changes proposed to be extended in this bill, each of these
categories of workers will lose access to some or all of the EITC, undermining the credit’s work
incentive and making it harder for working-class people to get by. Additionally, the bill proposes to
enhance the HCTC and extend it permanently. I have fought each year that I have been in Congress to
prevent expiration of this important credit for people like some Twin Rivers Paper workers and retirees.
Ending the annual guessing game for these workers would be a big step towards their financial security.
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Re: HCTC 2022

Postby tja5577 » Wed Dec 08, 2021 3:11 pm

I just found the statement below on the Benefit Plans for Delphi Retirees website https://www.dsrabenefittrust.net/copy-o ... -insurance

They claim that HCTC has been permanently extended and increased to 80%

I didn't think this bill had passed yet. Can anyone verify if this is true?


WHAT IS HCTC?

The Health Coverage Tax Credit (HCTC) was established by Congress as part of the 2002 Trade Act and is a federal program authorized to pay an 80% Subsidy for the health insurance premiums for Retirees and TAA-ATAA workers that meet the requirements established by Congress.

The Health Coverage Tax Credit (HCTC) has been made PERMANENT by Congress in the budget reconciliation bill (October 2021). The Section 137508 states: Permanent Credit for Health Insurance Costs. This Section makes the health coverage tax credit permanent, removing the uncertainty of annual extensions, and increases the amount of the qualified health insurance premium covered by the credit from 72.5% to 80%.
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Re: HCTC 2022

Postby Administrator » Tue Dec 21, 2021 3:03 pm

Portman, Brown Introduce Extension of Health Coverage Tax Credit on 12/16/2021

Below is a link to the details. I sure hope it gets passed.

https://www.portman.senate.gov/newsroom ... x-credit-0
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