January 7, 2016

IRS Guidance on the Health Coverage Tax Credit

On December 22, 2015, the IRS released Notice 2016-02, which reiterates information on who may claim the Health Coverage Tax Credit (HCTC), the amount of HCTC and procedures to claim the HCTC. This notice focuses on guidance for taxpayers eligible to claim the HCTC who are enrolled in individual coverage offered through the Marketplace and taxpayers who claimed or are eligible to claim the premium tax credit. The Notice did not address the advance payment program or changes to COBRA notices.

For information on the HCTC, see Sibson Consulting’s October 5, 2015 Update.

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