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I receive a PBGC benefit and am over 55, but I have health insurance through my current employer. Can I use the tax credit to pay for my contribution?

April 26, 2017benefit contribution employer health insurance pay pbgc tax credit

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I receive a PBGC benefit and am over 55, but I have health insurance through my current employer. Can I use the tax credit to pay for my contribution?

1 Answer

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If your employer pays for at least 50% of your health plan premium, then you are not eligible for the HCTC. However, if you are paying for more than 50% of your health plan premium, you may be eligible for the HCTC.