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dmuseus
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Is there a health insurance penalty? Or did Trump do away with it?

 
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Is there a health insurance penalty? Or did Trump do away with it?

For the 2017 tax return there is still a possible penalty (or not) will depend on some specific facts. It is best to prepare your return and answer the questions in order to determine if you are penalized or not.

3 important facts about health coverage exemptions:

  • Exemptions are available based on a number of circumstances, including certain hardships, some life events, health coverage or financial status, and membership in some groups.
  • You claim most health coverage exemptions on your federal tax return. Some require you to fill out and mail an application to the Marketplace.
  • You don’t have to pay the fee for any month you have qualifying health coverage. If you’re uncovered only 1 or 2 months, you don’t have to pay the fee for any month.

You can use this tool to find out if you could be exempt:

https://www.healthcare.gov/exemptions-tool/#/ 

 

From <https://ttlc.intuit.com/questions/4240514-my-husband-gets-his-health-insurance-through-through-his-w...

Next year is when new changes to the Healthcare penalty will be effective.

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