The Internal Revenue Service (IRS) announced on December 28 that it will extend the Health Coverage Tax Credit (HCTC) through December 31, 2021. The HCTC, which allows a tax credit to offset up to 72.5 percent of the cost of health insurance premiums, applies to workers who lost their jobs due to trade-related reasons or who are older workers receiving pensions from the Pension Benefit Guaranty Corporation (PBGC).
Specifically, the HCTC is available for the following workers (as well as other qualifying family members):
TAA recipients. Individuals who are receiving (or