TAA Health Coverage Improvement Act of 2007 - 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 rate of such credit from 65 to 95% of health insurance costs ; (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 Act 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.