Can You Get An Exemption from the Health Insurance Mandate?

The Affordable Care Act (ACA) requires most Americans to have health insurance. But there are some exceptions to this rule. One of the exceptions is if you can’t afford health insurance.

If you can’t afford health insurance, you may be able to get an exemption from the mandate. To get an exemption, you’ll need to file Form 8965 with your tax return. On this form, you’ll need to provide information about your income and your health insurance costs.

The IRS will use the information on your Form 8965 to determine if you qualify for an exemption. If you do qualify, you’ll be exempt from the mandate for the year that you filed the form.

Here are some of the reasons why you may qualify for an exemption from the health insurance mandate:

You are low-income and qualify for Medicaid or CHIP.
You are uninsured for less than three months of the year.
You have a religious objection to health insurance.
You are a member of a health care sharing ministry.
You are incarcerated.
You are a non-resident alien.

If you think you may qualify for an exemption from the health insurance mandate, you should speak with a licensed insurance agent or tax advisor. They can help you determine if you qualify and help you file the necessary paperwork.

If you do not qualify for an exemption from the health insurance mandate, you will need to pay a penalty when you file your taxes. The penalty is calculated based on your income and the number of months that you were uninsured. The penalty can be as high as $2,085 per adult and $1,042.50 per child.

If you can’t afford to pay the penalty, you can request a hardship exemption. To get a hardship exemption, you’ll need to file Form 8965-H with your tax return. On this form, you’ll need to provide information about your financial situation and why you can’t afford to pay the penalty.

The IRS will use the information on your Form 8965-H to determine if you qualify for a hardship exemption. If you do qualify, you’ll be exempt from the penalty for the year that you filed the form.

If you have any questions about the health insurance mandate or the penalty for not having health insurance, you should speak with a licensed insurance agent or tax advisor. They can help you understand your options and make sure that you’re in compliance with the law.