Congressman Mike Turner (OH-10) released the following statement after successfully advocating for a year long extension of the Health Coverage Tax Credit (HCTC) program to be included in the appropriations packages passed in the House yesterday:
“Many Delphi Salaried Retirees rely on the Health Coverage Tax Credit to afford health care, and it was set to expire at the end of this year. I am continuing to work with the Trump Administration towards additional remedies for the Delphi Salaried Retirees, 20,000 of whom lost their pensions as a result of the Obama Administration. This re-authorization of a key tax credit that makes health care more affordable for these retirees is a strong step forward, and I will continue to advocate for a long term reauthorization of this credit.”
The Health Coverage Tax Credit (HCTC) program was set to be terminated at the end of this year. The HCTC is available to eligible workers of any age who have experienced job loss due to work facility closures or foreign trade and have become Trade Adjustment Assistance (TAA) Certified. The spouses and families of these workers are also eligible. In addition, the HCTC is available to retirees age 55-65 who have had their defined pension plans trusteed by the Pension Benefit Guaranty Corporation (PBGC) due to their employer’s bankruptcy or restructure and who are receiving payments.
The Health Coverage Tax Credit Reauthorization Act would allow eligible individuals to remain within the Health Coverage Tax Credit (HCTC) program past the program’s December 31, 2019 termination date, or upon leaving the program. This program has been reauthorized six times since its inception in 2002 benefitting thousands of American workers and their families.
Turner has been a consistent advocate for long term reauthorization of the HCTC, introducing The Health Coverage Tax Credit Reauthorization Act back in March of this year. This healthcare benefit was set to expire at the end of 2019 under Obamacare.