IRS Logo
Print - Click this link to Print this page

Podcast text script - Claiming the Health Coverage Tax Credit

HI… I’M HECTOR… AND I WORK FOR THE INTERNAL REVENUE SERVICE.
    
CERTAIN TAXPAYERS MAY BE ELIGIBLE FOR THE HEALTH COVERAGE TAX CREDIT… OR H-C-T-C.
    
IT COULD MAKE HEALTH COVERAGE MORE AFFORDABLE BY PAYING A PORTION OF YOUR QUALIFIED HEALTH INSURANCE PREMIUMS.
    
THE H-C-T-C DOES NOT PROVIDE HEALTH INSURANCE COVERAGE… SO YOU MUST HAVE BEEN ENROLLED IN A HEALTH INSURANCE PLAN THAT QUALIFIES FOR THIS TAX CREDIT.
    
FOR 2014 AND 2015… HEALTH INSURANCE MARKETPLACE COVERAGE IS CONSIDERED ELGIBLE COVERAGE FOR THE H-C-T-C.
    
FOR 2016 AND BEYOND… MARKETPLACE COVERAGE IS NO LONGER QUALIFIED COVERAGE FOR THE H-C-T-C.
     
IF YOU’RE ELIGIBLE… YOU’LL NEED TO FILE FORM 8885… HEALTH COVERAGE TAX CREDIT… WHEN YOU FILE YOUR TAX RETURN.  
    
YOU MUST ALSO ATTACH SPECIFIC ITEMS TO YOUR RETURN TO CLAIM THE H-C-T-C.
    
THIS INCLUDES PROOF OF ELIGIBILITY. . .  PROOF OF COVERAGE. . .  AND PROOF OF PAYMENT OF INSURANCE PREMIUMS.   
    
IF YOU DO NOT ATTACH THE REQUIRED DOCUMENTATION, PROCESSING DELAYS MAY OCCUR.
    
IF YOU WERE ENROLLED IN COVERAGE THROUGH THE HEALTH INSURANCE MARKETPLACE IN 2014 OR 2015… YOUR   MARKETPLACE COVERAGE IS ELIGIBLE FOR THE H-C-T-C... BUT YOU CANNOT CLAIM BOTH THE H-C-T-C AND THE PREMIUM TAX CREDIT FOR THE SAME COVERAGE MONTHS.
    
THERE ARE SPECIAL INSTRUCTIONS FOR CLAIMING THE H-C-T-C IF YOU HAD MARKETPLACE COVERAGE IN 2014 or 2015.  
    
ONE LAST THING. . . YOU MUST AMEND YOUR 2014 TAX RETURN TO CLAIM THE H-C-T-C FOR 2014.
    
USE THE SPECIAL INSTRUCTIONS FOUND ON I-R-S-DOT-GOV-SLASH-H-C-T-C.
    
FOR MORE INFORMATION. . .  INCLUDING WHO IS ELIGIBLE TO CLAIM THE H-C-T-C… HOW TO CLAIM IT, AND WHAT TYPES OF HEALTH COVERAGE QUALIFY FOR THE CREDIT. . . GO TO I-R-S DOT-GOV-SLASH-H-C-T-C.
 

Page Last Reviewed or Updated: 30-Jun-2016