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Ryan, other lawmakers seek extension of Health Coverage Tax Credit

“As we face a pandemic and a struggling economy, we have to ensure that retirees and others who have faced trade-related and business disruptions are able to access affordable premiums for the health care they need,” U.S. Rep. Tim Ryan said.
Tim Ryan at East 11152019
U.S. Rep. Tim Ryan of Howland

WASHINGTON — A group of U.S. lawmakers, including Rep. Tim Ryan, D-13th, on Monday asked Richard Neal, chairman and ranking member of the House Ways and Means Committee, to extend the Health Coverage Tax Credit for five years.

The HCTC, which can cover up to 72.5 percent of premiums in some cases, is set to expire Dec. 31.

“As we face a pandemic and a struggling economy, we have to ensure that retirees and others who have faced trade-related and business disruptions are able to access affordable premiums for the health care they need,” Ryan said in a news release. “The Health Care Tax Credit helps thousands of Delphi salaried retirees and retired United Steelworkers get the health care that they and their families deserve. We cannot leave them without coverage.”

In a letter to Neal, the lawmakers wrote: “Our districts are home to working people who are facing threats to their families’ financial stability through no fault of their own and who need continued access to affordable health care through this credit. The addition of pandemic-related economic uncertainty, along with continued trade pressures and pension instability, mean that this is no time to let the HCTC lapse.”

Along with Ryan, the lawmakers who sent the letter are Reps. Michael Turner, R-Ohio; Jared Golden, D-Maine; Brian Fitzpatrick, R-Pa.; and Veronica Escobar, D-Texas.