Health Insurance Tax Credits: Maximize Your Savings

Claiming tax relief on health insurance is a prime health care benefit that can result in important cost savings. Individuals who qualify can receive the Health Coverage Tax Credit when health plan premiums are due or as a credit on their federal tax returns. The savings can be upwards of 80 percent of health insurance premiums and are significant enough that you should determine the eligibility requirements and work through the application process.

Instructions

• 1

  Determine your eligibility for the program. Work through the program kit that can be downloaded from the HCTC Eligibility Requirements page, accessible through the link in the Resource section.

• 2

  Register for the program. Complete the HCTC registration form located in the program kit. Collect the documents required for registration per the program kit and submit those and the registration form to the specified address.

• 3

  Wait the time specified in the kit for the HCTC department to process your registration and notify you of your new status as a recipient of relief.

• 4

  Continue receiving benefits by remaining eligible per the instructions in the HCTC program kit.