Penalty taxes for being without health insurance

Charlene M. Ives, CPA, PC

Charlene M. Ives, CPA, PC

  • Here are some of the exemptions from the penalty:
  • Being part of a religion opposed to acceptance of benefits from a health insurance policy (this includes being a member in a health sharing ministry)
  • Being a member of an Indian tribe
  • Your family income is below the threshold for filing a tax return ($10,000 for an individual, $20,000 for a family))
  • You have to pay more than 8% of your income for health insurance after taking into account any employer contributions or tax credits

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