Health Coverage Tax Credit Reauthorization Act of 2021

Bill 117 HR 6339, also known as the Health Coverage Tax Credit Reauthorization Act of 2021, is a piece of legislation currently being considered by the US Congress. The bill aims to reauthorize the Health Coverage Tax Credit (HCTC) program, which provides a tax credit to certain individuals who are eligible for Trade Adjustment Assistance (TAA), Alternative Trade Adjustment Assistance (ATAA), or Pension Benefit Guaranty Corporation (PBGC) payments.

The HCTC program was originally established in 2002 to help eligible individuals afford health insurance coverage. The program provides a tax credit that covers a significant portion of the cost of health insurance premiums for qualified individuals. The program has been reauthorized several times since its inception, most recently in 2015.

The Health Coverage Tax Credit Reauthorization Act of 2021 seeks to extend the HCTC program for an additional five years, through December 31, 2026. The bill also includes provisions to streamline the administration of the program and make it easier for eligible individuals to access the tax credit. Overall, the bill aims to ensure that individuals who are eligible for the HCTC program continue to have access to affordable health insurance coverage. It is currently being reviewed by the relevant congressional committees and may be subject to amendments before being voted on by the full Congress.