HCTC: Information for Monthly Participants
The links below provide helpful information for managing your monthly HCTC account.
Make a Payment to the HCTC Program
Access this page to learn more about the HCTC payment process, including electronic payment.
Important Update: The legislation that authorizes the Health Coverage Tax Credit (HCTC) expires January 1, 2014 and the tax credit will no longer be available. The final monthly HCTC payment due date is December 24, 2013. However, your November HCTC payment may be your final payment. When you receive your December HCTC invoice:
- If your existing qualified coverage is already paid through December 2013, do not pay your December HCTC invoice.
- If your existing qualified coverage is not paid through December 2013 (account in arrears) or your insurance payment cycle has not already covered December, you should pay your December HCTC invoice.
Please visit the HCTC Expiration page for additional information on how the tax credit expiration affects you.
Update your Account Information
This page provides information on how to make account updates for the Monthly HCTC including:
Adding or removing a family member from your account
Changing information about your health insurance (e.g. premium change)
Changing to a new HCTC qualified health insurance plan
Switching eligibility types from TAA/ATAA/RTAA to PBGC
Reactivating a recently cancelled account
All other account updates
Until your last payment is made, please continue to submit Form 13704, HCTC Monthly Registration Update to notify the HCTC Program of any changes to your HCTC account.
Information About IRS Form 1099-H
The HCTC Program sends IRS Form 1099-H to individuals who received one or more monthly HCTC payments or reimbursement credits during the year.
- IRS Form 1099-H reflects the amount the HCTC Program paid on behalf of an individual directly to their health plan. This form should be kept with the individual's records, not filed with a federal income tax return. Please note that monthly HCTC participants who have family members with their own HCTC Account Numbers and separate insurance policies, will receive one consolidated IRS Form 1099-H. This consolidated 1099-H will show the amount paid on behalf of the participant and all family members.
- If you are a current monthly HCTC participant, but made additional payments directly to your health plan during the tax year while you were eligible for the HCTC, you can claim the Yearly HCTC for these payments.