Health care premium tax credits Research Paper Example | Topics and Well Written Essays - 500 words

Health care premium tax credits - Research Paper precedentIt is a refundable tax credit and the refund is fully paid regardless of the income tax which is owed by the recipient (IRS Individuals). This HCTC benefits many displaced workers and those aged 55 years and aged(a) under pension benefit. It is meant to ensure that people bottom of the inning still access wellness care services despite their financial difficulties and economic status (IRS Individuals).The special comprise which has make the HCTC possible is the Trade Adjustment Act of 2002. This act basic each(prenominal)y created the HCTC and ensured that certain individuals who receive PBGC are qualified for credits (DSRA, p. 1). The act made it possible for 65% of health care insurance to be covered by the federal government. Through this act, the HCTC has been implemented since December 2002 and it has also been available for all of 2003 and the years following (DSRA, p. 1). The Ameri great deal Relief and Recovery Ac t of 2009 (ARRA) extends the coverage of the Trade Adjustment Act of 2002. It is the act which provides about $30 jillion for health investments with most of the investments made available to hospitals and physicians who use Electronic Health Records (EHR) (Cisco, p. 1). Those with EHR are qualified to receive incentives from the Medicare and Medicaid starting on 2011 the act includes a $2 billion grant from the Department of Health and Human Services and also grants for telemedicine projects (Cisco, p. 1). As part of the ARRA, the Trade Adjustment Assistance Health Coverage Improvement Act of 2009 was passed and this expanded the eligibility of qualified family members beyond the enrollees death or divorce for up to 24 months also, those who are eligible but live in US territories can participate in the monthly HCTC (IRS Individuals).The HCTC is included as a health policy because the Congress recognized that for people who lose their health coverage, the experience can