Reply
Contributor

Health Coverage Tax Credit

Have you contacted your representative to have them support and pass the Health Coverage Tax Credit? HR 6339, S3413. Surprised I see nothing on AARP site. The credit has allowed people who have a pension with PBGC (a pension taken over when their company went bankrupt) to have a tax credit to pay for medical insurance. Congress allowed this benefit to expire at the end of 2021, despite the fact that many people used it in their retirement/financial planning. The credit expired in the face of damaging inflation and retirement savings severely effected by the stock market adjustments of late. 

 

0 Kudos
949 Views
1
Report
Honored Social Butterfly

I am pretty sure that it would have ended several years ago if it had not been for the CARES Act which extended it due to the National Disaster designation (Covid) by President Trump.  Plus, now that the American Rescue Plan Act has been passed under the Biden Administration which expanded the income levels for tax credit subsidies under the ACA, at least thru 2022, maybe longer if an extension to these are passed by Congress, I don't think that the HCTC will have too much chance in passage - at least not in the near term. 

 

Maybe you will reach Medicare age before too long.

 

 

It's Always Something . . . . Roseanna Roseannadanna
0 Kudos
815 Views
0
Report
cancel
Showing results for 
Show  only  | Search instead for 
Did you mean: 
Users
Need to Know

"I downloaded AARP Perks to assist in staying connected and never missing out on a discount!" -LeeshaD341679

AARP Perks

More From AARP