There are several types of health insurance that qualify for the Health Coverage Tax Credit (HCTC):
- COBRA
- 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 2022
- 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, visit the IRS.
