Health Share Plan

[kaitlynwildman]

Hello! I live in Massachusetts and switched jobs in April 2023 so I signed up for what I thought was health insurance, but turned out to be a health share plan instead, which does not meet the Massachusetts insurance requirement. I believe I will be getting a fine for it but I was wondering if there was anywhere I could write off the cost I was paying for the healthshare plan?

[DawnC · Accepted solution]

Unfortunately, no.  Contributions members make to health sharing organizations for their membership fees are not deductible for federal income tax purposes.  

The Massachusetts Health Care Reform Law requires that most residents over 18 who can afford health insurance have coverage for the entire year, or pay a penalty through their tax returns.  Penalties add up for each month you don't comply, but there is a grace period that allows lapses in coverage of 3 or fewer consecutive months.  You must be enrolled in health insurance plans that meet Minimum Creditable Coverage (MCC) requirements.