From Peace Corps Wiki
In 2002, the Trade Act created the Health Coverage Tax Credit, also called the HCTC. The HCTC became effective in 2003, and offers a federal tax credit of 65% to be paid back to eligible people for the qualified health plan costs annually they paid. This works 1 of 2 ways: the qualified individual can either file their federal tax statements every year claiming the premiums, or by trying to get an by paying 65% of the health plan premiums due. Just how in which the health tax credit is received by the individual is generally as much as her or him.
Suitable people for the tax credit often include trade affected employees who get a Trade Readjustment Allowance or Alternative Trade Adjustment Assistance. When they collect from the Pension Benefit Guaranty Corporation some people might be qualified.
This can be a huge plus for those individuals who find it difficult to acquire affordable medical health insurance in Alabama. Certain, there are state and federal programs to assist low income individuals and families who can not afford to get a person and/or family health insurance program, and even those individuals who work but arent offered health insurance coverage through their employers, but sometimes individuals arent qualified to receive these programs, even although they dont have any other methods to find affordable health insurance in Alabama.
Health care is just a requisite, and sometimes we have to find the money handy over, whether we have it or not. With the Health Coverage Tax Credit, those who find themselves qualified to receive a federal tax credit can at the least be assured that a number of their hard-earned cash is likely to make it back into their pockets.
If you are among the many who are having an arduous time finding affordable health insurance in Alabama and are enthusiastic about your eligibility for the Health Coverage Tax Credit software, visit Alabamas Department of Insurance Site for more details. quality hsbc ppi claims