Find Very Affordable Health Insurance In Alabama

In 2002, the Trade Act created the Health Coverage Tax Credit,
also referred to as the HCTC. The HCTC became effective in 2003,
and offers a federal tax credit of 65% to be paid back to
eligible individuals for the qualified health plan premiums they
paid each year. This works one of two ways: the eligible
individual can either file their federal tax returns each year
claiming the premiums, or by applying for an advance by paying
65% of the health plan premiums due. The way in which the
individual receives the health tax credit is usually up to him
or her.

Eligible individuals for the health tax credit usually include
trade impacted workers who get a Trade Readjustment Allowance or
Alternative Trade Adjustment Assistance. Some people may be
eligible if they collect from the Pension Benefit Guaranty
Corporation.

This is a huge plus for those individuals who find it difficult
to obtain affordable health insurance in Alabama. Sure, there
are state and federal programs to assist low income individuals
and families who can not afford to purchase an individual and/or
family health insurance plan, and even those individuals who
work but aren't offered health insurance coverage through their
employers, but sometimes individuals aren't eligible for these
programs, even though they don't have any other means to find
affordable health insurance in Alabama.

Health care is a necessity, and sometimes we have to find the
cash to hand over, whether we have it or not. With the Health
Coverage Tax Credit, those who are eligible for a federal tax
credit can at least rest assured that some of their hard-earned
cash will make it back into their pockets.

If you are one of the many who are having a difficult time
finding affordable health insurance in Alabama and are
interested in your eligibility for the Health Coverage Tax
Credit program, visit Alabama's Department of Insurance Web site
for more information.

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