Find Very Affordable Health Insurance In Alabama
In 2002, the Trade Act created the Health Coverage Tax Credit, also referred to as the HCTC. The HCTC became effective in 2003, and offers a federal tax credit of 65% to be paid back to eligible individuals for the qualified health plan premiums they paid each year. This works one of two ways: the eligible individual can either file their federal tax returns each year claiming the premiums, or by applying for an advance by paying 65% of the health plan premiums due. The way in which the individual receives the health tax credit is usually up to him or her.