What types of health insurance qualify for the Health Coverage Tax Credit?
There are several types of health insurance that qualify you for the 2016 Health Coverage Tax Credit (HCTC). However, contributions by your employer or your spouse’s employer may limit your qualification.
- Group health plan available through the employment of your spouse
- Employee benefit plan funded by a voluntary employees’ beneficiary association (VEBA)
- Individual health insurance plan, not including coverage through a Health Insurance Marketplace
- State-qualified health plans established prior to January 1, 2014
Health insurance plans that don’t qualify for the credit:
- Health Insurance Marketplace coverage for 2016
- Flexible spending or similar arrangements and any insurance that’s purchased separately and not paid for as a comprehensive package, like dental or vision plans.
For detailed eligibility information on qualified health insurance plans, follow this link.