Golden’s Push to Protect Health Coverage Tax Credit for Mainers Successful
WASHINGTON — Congressman Jared Golden (ME-02) led a successful effort to secure a one-year extension for the Health Coverage Tax Credit (HCTC) recently as part of the omnibus government funding bill that was signed into law earlier this month. The HCTC helps dozens of Maine retirees, specifically retired workers from the Twin Rivers Paper Mill in Madawaska, afford health insurance.
“The last thing Mainers should have to worry about during a pandemic is losing access to health care,” said Congressman Golden. “Dozens of retirees in and around Madawaska currently use the Health Coverage Tax Credit to secure affordable health insurance and hundreds more could become eligible when they retire. I’m proud to have worked to keep the HCTC and the health care it provides available to eligible Mainers.”
Golden led a bipartisan group of five members of Congress to push for the HCTC to be extended in the funding bill.
The HCTC program provides refundable tax credits to cover over 70% of the cost of health insurance premiums for two kinds of workers: those who have been certified to have lost their jobs due to outsourcing, and eligible retirees whose pensions have been taken over by the Pension Benefit Guaranty Corporation as a result of the financial instability of a previous employer.
Golden has been a long-time advocate for the HCTC. Golden initially helped to push for a renewal of the HCTC in February 2019, after a meeting with Twin Rivers Paper Mill workers. This latest renewal will last through 2021.