What is the tax penalty for no health insurance

You no longer pay a tax penalty (fee) for not having health coverage. If you don’t have coverage, you don’t need an exemption to avoid paying a penalty when you file taxes.

You need an exemption if you are age 30 or older and want to enroll in a “catastrophic” health plan. A catastrophic health plan offers lower-priced coverage that primarily protects you from high medical costs if you sustain a serious injury or injury. learn more about catastrophic plans.

Reading: What is the tax penalty for no health insurance

You must apply for a waiver to qualify. you will need to file an exemption application and obtain an exemption certificate number (ecn) to enroll in the “catastrophic” health plan.

If you are under 30 years old, you do not need an exemption to enroll in a catastrophic plan.

See also: How to settle a car accident claim without insurance

There are 2 types of waivers: affordability and hardship.

affordability exemptions (related to income)

You may qualify for this exemption if the lowest-priced coverage available to you, either through a marketplace or a job-based plan, would cost more than 8.09% of your household income.

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get the application form and instructions.

how long do affordability exemptions last?


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