IRS Extends Health Coverage Tax Credit through 2021

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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).

Source: Doucefleur / iStock / Getty Images

Specifically, the HCTC is available for the following workers (as well as other qualifying fam­ily members):

TAA recipients. Individuals who are receiving (or

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