I received an email from the NRLN today.
Bottom line is that it looks those who depended on the HCTC are screwed.
I was informed from the PBGC today that the Health Care Tax Credit - HCTC Program will end on December 31, 2019. We have Avaya Chapter members that were in pay status by PBGC that are under 65 years old that will be affected by the ending of this program.
Those Avaya retirees that were not on Medicare could get help to pay 72% of the cost of their health insurance. This program was to end several years ago, but it was extended by Congress each time the sunset clause approached.
There were at least two bills introduced this year to extend the program one for 1 year that made it through the House Ways and Means Committee mark up and another proposal to extend it by 5 years. Neither ever made it out of the Committee. We can thank Congress again for doing nothing constructive to help its constituents.
I was asked to direct those affected to the IRS website for additional instructions in reference to the HCTC Program. Click here (https://www.irs.gov/credits-deductions/individuals/hctc) to access the website.
Also, IRS has issued letters to all participants in the Advance Monthly Program that HCTC is scheduled to end December 31, 2019.