shout out to Mass retirees >65 using the HCTC tax credits o

[Vbaumwald]

Hi All,
Any Massachusetts retirees under 65 trying or wanting to use the 72.5% HCTC credit now that the PBGC has fully taken over the pension ?
Can you contact me directly..I have a guy trying to work this for me for Neighborhood Health (now Allways)
Wondering if anyone has had success either this one or BCBS which I would prefer not to use.
Neighborhood has better plans and is now provider for Partners MGH/BWH employees as of 1/1/19..
looking for advice or maybe we can help you too.
contact me directly vbaumwald@yahoo.com or 781-710-4641 if you have info or want to figure this out
thanks all,
Vickie

[Dave]

You cannot use the HCTC if your plan is currently under Obamacare marketplace (even if you don't get a subsidy).

Some, probably most, insurance companies have no freaking clue what the HCTC is and refuse to sign up with the guberment to get the 72.5% subsidy. In this case you foot the entire bill for the year and then get a big tax credit the following year when you file your taxes.

[Maddog]

Is the HCTC credit for non marketplace plans still good for 2019? I wasn't sure, but thought that it expires 1-1-2019 unless it is re-upped?

[Dave]

Is the HCTC credit for non marketplace plans still good for 2019? I wasn't sure, but thought that it expires 1-1-2019 unless it is re-upped?

From the web

The Health Coverage Tax Credit is a tax credit that pays 72.5 percent of qualified health insurance premiums for eligible individuals and their families. The HCTC acts as partial reimbursement for premiums paid for qualified health insurance coverage and can now be claimed for qualified coverage through 2019.

[Vbaumwald]

Yes I am aware I cannot go thru the connector..I have someone working on this directly for me with Neighborhood ie Allways and BCBS...I was under the impression that the end date for the program was 12-31-19...anyone want to confirm that
Thanks for the responses
Vickie