Anybody using the Health Coverage Tax Credit (HCTC) - via PGBC pension?

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HoosierJim
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Joined: Wed Mar 24, 2010 7:11 pm

Anybody using the Health Coverage Tax Credit (HCTC) - via PGBC pension?

Post by HoosierJim » Sat Nov 04, 2017 5:09 pm

Wondering if any Bogleheads have experience with the PGBC pensions and the Health Coverage Tax Credit (HCTC).
  1. At what age were you able to take your PGBC pension?
  2. Any snags or pitfalls?
  3. Are you still working?
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.

Eligibility
You may be eligible to elect the HCTC only if you are one of the following:
  • An eligible trade adjustment assistance recipient, alternative TAA recipient or reemployment TAA recipient,
  • An eligible Pension Benefit Guaranty Corporation payee, or
  • The family member of an eligible TAA, ATAA, or RTAA recipient or PBGC payee who is deceased or who finalized a divorce with you.
You are not eligible for the HCTC if you:
  • Can be claimed as a dependent on another person’s federal income tax return or
  • Are enrolled in Medicare, Medicaid, the Children’s Health Insurance Program, or the Federal Employees Health Benefits
  • Program or are eligible to receive benefits under the U.S. military health system (TRICARE)
https://www.pbgc.gov/wr/benefits/hctc

https://www.irs.gov/credits-deductions/individuals/hctc

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