TAA Health Coverage Improvement Act of 2004 - Amends the Internal Revenue Code to revise the tax credit for the health insurance costs of trade adjustment assistance (TAA) workers to, among other things: (1) increase the amount of such credit from 65 to 95 percent; (2) allow for the full amount of such credit and for full payment of TAA worker health insurance premiums for months prior to the issuance of a qualified health insurance costs credit eligibility certificate; and (3) set forth new tax credit eligibility rules for TAA workers and their family members.
Requires the Director of the Office of Personnel Management to establish a program to offer TAA workers enrollment in the Federal Employees Health Benefit program (FEHBP).
Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) prevent a lapse of health care coverage for TAA workers; and (2) align coverage periods under such Acts with eligibility periods for TAA workers.
Amends the Workforce Investment Act of 1998 to require a State or entity to use national emergency grant funds to provide TAA workers and their family members with health insurance coverage for periods prior to their first eligibility month.
Amends the Public Health Service Act to extend: (1) through FY 2006 funding for the creation and initial operation of State high risk health insurance pools; and (2) through FY 2009 funding for allotments for the operation of existing State pools.