To amend the Internal Revenue Code of 1986 to take certain Medicare premiums of household members into account in determining the health care insurance premiums tax credit.

Bill 118 hr 7017, also known as the "Health Care Insurance Premiums Tax Credit Act," aims to make changes to the Internal Revenue Code of 1986 in order to consider certain Medicare premiums of household members when determining eligibility for the health care insurance premiums tax credit.

The bill specifically focuses on including Medicare premiums paid by household members when calculating the tax credit for health care insurance premiums. This means that individuals who are paying Medicare premiums for themselves or their family members will be able to factor these costs into their eligibility for the tax credit.

By allowing Medicare premiums to be taken into account, the bill aims to provide additional financial relief to individuals and families who are struggling to afford health care insurance. This change could potentially make health care insurance more affordable for those who are currently facing high premiums. Overall, the Health Care Insurance Premiums Tax Credit Act seeks to address the financial burden of health care insurance premiums by expanding the eligibility criteria for the tax credit to include Medicare premiums paid by household members. This could potentially benefit a wide range of individuals and families who are in need of financial assistance when it comes to affording health care coverage.