|
|
|
|
Do I have to be covered for an entire calendar month to avoid the shared responsibility payment liability for not having minimum essential coverage for that month?
|
|
| |
No. You will be treated as having minimum essential coverage for a month as long as you have coverage for at least one day during that month....
|
|
|
Form 1095A received for Marketplace Coverage |
|
| |
For tax year beginning 2019, you will select Yes or NO to the health coverage question and select if you received a form 1095A for marketplace coverage in the "my info" page. If you had coverage through the federal marketplace, you will continue to the taxes tab and go to Form 8962, Excess advanc...
|
|
|
If I think I qualify for a coverage exemption, how do I obtain it?
|
|
| |
It depends on the coverage exemption for which you may qualify. The religious conscience exemption and most hardship exemptions are available only by going to the Health Insurance Marketplace (Marketplace) and applying for an exemption certificate. Information on obtaining these exemptions is av...
|
|
|
What are the statutory exemptions from the requirement to obtain minimum essential coverage? |
|
| |
Religious conscience. You are a member of a religious sect that is recognized as conscientiously opposed to accepting any insurance benefits. The Social Security Administration administers the process for recognizing these sects according to the criteria in the law. Health care sharing ministry. Y...
|
|
|
How do I report or claim a coverage exemption on my tax return?
|
|
| |
Exemption Form 8965 is not used for 2021, 2020 or 2019 returns. You will have to account for coverage exemptions when you file your federal income tax return. You claim or report coverage exemptions on Form 8965, Health Coverage Exemptions, and file it with your Form 1040, Form 1040A, or Form ...
|
|
|
What counts as minimum essential coverage? |
|
| |
Minimum essential coverage includes the following: Employer-sponsored coverage, including self-insured plans, COBRA coverage and retiree coverage Coverage purchased in the individual market, including a qualified health plan offered by the Health Insurance Marketplace Medicare Part A coverage...
|
|
|
How do I report that I had health coverage for each month of the year?
|
|
| |
For tax year 2021 (2020 or 2019), you will select YES or NO to the health coverage question if you received a form 1095A for marketplace coverage in the "my info" section. If you had coverage through the federal marketplace, you will enter your 1095A information and complete form 8962 on the taxes...
|
|
|
If I receive my coverage from my spouse’s employer, will I have minimum essential coverage? |
|
| |
Yes. Employer-sponsored coverage is generally minimum essential coverage. (See question 5 for information on specialized types of coverage that are not minimum essential coverage.) If an employee enrolls in employer-sponsored coverage that provides minimum value for himself and his family, the empl...
|
|
|
Who is subject to the individual shared responsibility provision?
|
|
| |
The provision applies to individuals of all ages, including children. The adult or married couple who can claim a child or another individual as a dependent for federal income tax purposes is responsible for making the payment if the dependent does not have coverage or an exemption. Please clic...
|
|
|
What is the individual shared responsibility provision? |
|
| |
Under the Affordable Care Act, the federal government, state governments, insurers, employers and individuals are given shared responsibility to reform and improve the availability, quality and affordability of health insurance coverage in the United States. Starting in 2014, the individual shared ...
|
|
|
If I am exempt from the shared responsibility payment, can I still be eligible for the premium tax credit?
|
|
| |
In many cases, yes, but it depends upon the exemption. If you are exempt because you are incarcerated or because you are not lawfully present in the United States, you are not eligible to enroll in a qualified health plan through the Marketplace and therefore cannot claim a premium tax credit for y...
|
|
|
What do I need to do if I am required to make a payment with my tax return? |
|
| |
For calendar year 2021, the dollar amount used to determine the penalty for not maintaining minimum essential health coverage is 0 (2020 and 2019 also), per the Tax Cuts and Jobs act; for 2018 the amount was $695 2018 and prior years. If you have to make an individual shared responsibility pay...
|
|
|
What happens if I owe an individual shared responsibility payment, but I cannot afford to make the payment when filing my tax return?
|
|
| |
For calendar year 2021, the dollar amount used to determine the penalty for not maintaining minimum essential health coverage is 0 (2020 and 2019 also), per the Tax Cuts and Jobs act; for 2018 the amount was $695 The IRS routinely works with taxpayers who owe amounts they cannot afford to pay. ...
|
|
|
What qualifies as a short coverage gap? |
|
| |
In general, a gap in coverage that lasts less than three months qualifies as a short coverage gap. If an individual has more than one short coverage gap during a year, the short coverage gap exemption only applies to the first gap....
|
|
|
If my income is so low that I am not required to file a federal income tax return, do I need to do anything special to claim an exemption from the individual shared responsibility provision?
|
|
| |
No. If you are not required to file a federal income tax return for a year because your gross income is below your return filing threshold, you are automatically exempt from the shared responsibility provision for that year and do not need to take any further action to secure an exemption. If you a...
|