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Tax Credit for Unemployed in 2021: Health Care Cost Support.

This bill introduces changes to help unemployed individuals in 2021 cover health insurance costs. If you received unemployment benefits, you might qualify for a larger tax credit for insurance premiums, reducing your health expenses. This support aims to facilitate access to medical care during a difficult period.
Key points
Unemployed individuals in 2021 may receive a larger tax credit for health insurance premiums.
Household income above 133% of the poverty line will not be considered when calculating this credit for the unemployed.
To qualify, proof of unemployment compensation receipt will be required.
The changes apply to taxable years beginning after December 31, 2020.
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Additional Information
To amend the Internal Revenue Code of 1986 to provide for the application of the premium tax credit in the case of certain individuals who are unemployed during 2021.
Print number: HR 942
Sponsor: Rep. McBath, Lucy [D-GA-6]
Process start date: 2021-02-08