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American Recovery and Reinvestment Act Program Guide
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Health Coverage Tax Credit
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| Progress Indicator |
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| Guidance Available |
Application Processes Open |
Application Processes Closed |
Award Processes Completed |
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| Federal Program Information |
| Federal Program Description |
The Trade Adjustment Act of 2002 included a tax credit that could be applied to assist recipients of Trade Act and Pension Benefit Guarantee Corporation benefits with the purchase of qualifying health insurance. The ARRA stimulus package increased the amount of the monthly credit, expanded eligibility for the credit, provided a retroactive benefit and extended COBRA eligibility for certain individuals and their dependents.
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| CFDA Number |
Not applicable |
| Assistance Type |
Insurance |
| ARRA Citation |
Section 1899 - page 310 |
| ARRA Reporting |
The HCTC unit of the Treasury Department tracks enrollment and reports the number of residents enrolled in the advanceable credit on a quarterly basis. There are no State reporting requirements.
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| Federal Agency |
Department of Treasury |
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| NYS Information |
| NYS Program Title |
Federal Health Coverage Tax Credit for Trade Adjustment and Pension Benefit Guarantee recipients |
| NYS Agency |
NYS Insurance Department and NYS Labor Department |
| Contact |
Renee Greer |
| Email |
rgreer@ins.state.ny.us |
| Phone |
518-473-6107 |
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| Program Funding |
| National Total |
Based on Enrollment |
| NYS Share |
Based on Enrollment |
| Flow of Funds |
For those who claim the tax credit in advance, the HCTC unit of the Treasury Department pays the insurer or employer (for COBRA or state continuation) directly. Those that claim the credit annually receive a credit and possible refund with their income tax returns.
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| Deadline |
Not applicable |
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| Awards and Outcomes |
| Website |
http://www.recovery.gov/transparency/pages/home.aspx?State=NY |
