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OVERVIEW The Federal government instituted a new program, the Health Coverage Tax Credit (HCTC) for eligible claimants who have lost their jobs due to the effects of international trade and are eligible for benefits under certain Trade Adjustment Assistance (TAA ) or Alternative Trade Adjustment Assistance (ATAA) programs. In order for the TAA group to be eligible for this program claimants must be eligible for the Trade Readjustment Allowance (TRA). The HCTC is a federal tax credit and was established by the Trade Act of 2002. The program allows the IRS to pay 65% of eligible state residents' health plan monthly premiums for as long as they remain eligible. In addition, there is also a tax credit available for premiums paid between January and July of this year, with eligibility determined on a month-by-month basis. The Colorado Department of Labor and Employment, Unemployment Insurance Operations administers this program, for Colorado recipients. To see information about HCTC go to http://www.irs.gov (IRS keyword: HCTC), or click here for a direct link. To see information about the Trade Adjustment Act/Trade Re-adjustment Act benefits click here. To obtain more information you may want to use the following points of contact: The Federal HCTC Customer Contact Center: 1-866-628 HCTC (1-866-628-4282) or TDD/TTY callers call 1-866-626-HCTC (1-866-626-4282) 7:00am to 7:00pm Central time, Monday through Friday. There are also HCTC brochures available at all Colorado Workforce Centers or available upon request from the HCTC Customer Contact Center. |