If you have a Verizon Wireless card and only Verizon...You can mothball (turnoff with no payment due) your Broadband card for three months by calling Verizon. The fee is $15.00 and your wireless card will be mothballed for three months.
BEFORE THE END OF THE THREE MONTHS YOU CAN CALL AGAIN, pay the $15.00 fee again and mothball your card for another three months for a total of six months AND you can convert your wireless account to a family plan...and get out of the contract, by adding an additional phone for $9.99 a month to a qualifying account. If you have a used cell they can activate that or you can but a cheapie from Verizon and activate that for a small fee.
All the info we need to process out is available on the flight service website. As much as we are all disgusted with this nonsense, take care of your stuff NOW and do NOT wait till the end of the month.AA will send you the form for deciding what coverage you want if you choose Cobra.
The IRS adminsters the tax credit for the HCTC, not the PBGC!
IF YOU ARE OVER 55 AND COLLECTING FROM THE PBGC, THE IRS administers the tax credit covering 80% OF THE COBRA COST FOR life...NOT THE RECENT OBAMA PLAN WHICH COVERS ONLY 9 MONTHS. DO YOUR HOMEWORK. HERE ARE THE SITES FOR THE PBGC AND THE HCTC FOR THE COBRA 80% COVERAGE OF THE INSURANCE PREMIMUM. (insurance only) WE ARE ALL IN THIS TOGETHER.I am wearing my TWA wings on my uniform till the last trip.
HCTC Latest News, Overview and Background
http://www.irs.gov/individuals/article/0,,id=109960,00.html
PBGC link
https://egov3.pbgc.gov/mypba/login.aspx?ReturnUrl=%2fmypba%2fprivate%2fcustomer%2fhome.aspx
What is the HCTC and who is eligible?
The Health Coverage Tax Credit (HCTC) is an important benefit that pays 80% of a qualified health plan premium for eligible individuals. The HCTC is a unique tax credit that individuals can receive either monthly as their health plan premium becomes due or yearly as a credit on their federal tax return.
The Internal Revenue Service (IRS) administers the HCTC. The following individuals are potentially eligible for the tax credit:
1. Pension Benefit Guaranty Corporation (PBGC) pension recipients who are at least 55 years old
What is the monthly HCTC?
Most tax credits are paid out when you file your federal taxes. However, health plan premiums can be expensive and some people need help to pay them each month as they become due instead of when they file their taxes.
The monthly HCTC allows you to receive the HCTC in the form of a payment to your health plan on a monthly basis as your premium payments become due after you have paid your portions of the health insurance premiums to the HCTC Program.
What is the yearly HCTC?
The yearly HCTC is paid out when you file your federal taxes. You must complete and submit IRS Form 8885, Health Coverage Tax Credit, to claim the yearly HCTC on your federal tax return. The instructions on the form provide guidance on who may claim the HCTC and what documents you must provide with IRS Form 8885.
If you do not have all the required documents, you may not receive the HCTC as a refund or a credit against any taxes you owe. You can get IRS form 8885 on the IRS website or by calling the IRS at 1-800-TAX-FORM
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