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moshesef33
New Member

How can I know if I had a health insurance coverage in 2016?

All my forms W-2 show a "5 Medicare wages and tips" and "6 Medicare tax withheld"! Do they count as health insurance coverage in 2016?
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Accepted Solutions
IreneS
Intuit Alumni

How can I know if I had a health insurance coverage in 2016?

No.  Medicare tax withholding goes to pay for the Medicare Hospital Insurance  that you’ll get when you’re a senior.  It is calculated on wages reported in box 5 - Medicare wages and tips. 

Today, the Medicare Tax rate is 1.45% for individuals with earned income up to $200,000. Employees and employers each pay 1.45%, for a total of 2.9%.


If you did not arrange for health insurance, either yourself or through your employer, (or if you aren't covered by your parent's policy, you most likely don't have health insurance.
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1 Reply
IreneS
Intuit Alumni

How can I know if I had a health insurance coverage in 2016?

No.  Medicare tax withholding goes to pay for the Medicare Hospital Insurance  that you’ll get when you’re a senior.  It is calculated on wages reported in box 5 - Medicare wages and tips. 

Today, the Medicare Tax rate is 1.45% for individuals with earned income up to $200,000. Employees and employers each pay 1.45%, for a total of 2.9%.


If you did not arrange for health insurance, either yourself or through your employer, (or if you aren't covered by your parent's policy, you most likely don't have health insurance.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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