Health insurance tax credit available for some Tennesseans

Monday, January 18, 2010 at 11:45pm
Staff reports

The Internal Revenue Service is holding a series of public outreach events across the state this week to educate Tennesseans on a tax credit that pays up to 80 percent of an individual’s health insurance premiums.

The Health Coverage Tax Credit (HCTC) is a refundable tax credit available on a monthly basis to help individuals pay health insurance costs or on a yearly basis when they file federal tax returns.

Only individuals who qualify for Trade Adjustment Assistance, a benefit for workers who have lost their jobs because of trade with foreign countries, and those aged 55 to 65 who receive benefits from the Pension Benefit Guaranty Corp. are eligible.

The IRS estimates that 19,600 Tennesseans qualify for the credit but only 770 were enrolled last year.

Interested Middle Tennesseans may attend an information session on Wednesday, Jan. 20 at the Radisson Hotel at Opryland. Three sessions will be held at 9:30 a.m., 11:30 a.m. and 1:30 p.m.
Sessions at the same times will be held at the Doubletree Hotel in Jackson on Jan. 19 and the Crowne Plaza Hotel in Knoxville on Jan. 21.