Who is exempt from Obamacare? Under Obamacare, Americans will be required to purchase health insurance for 2014, but like many requirements in life, the individual mandate is not absolute. Here are the exceptions. The Affordable Care Act (ACA) requires Americans to purchase health insurance. This “individual mandate” is perhaps the keystone of President Obama’s signature health-care reform law, which is also known as Obamacare. This is used by drawing more healthy and young people into the insurance risk pool. Those without coverage in 2014 will have to pay a penalty on their tax return for the year of 1 percent of their income or $95, whichever is greater. However like many requirements in life, this one is not absolute. There are exceptions to the individual mandate rule First off, the federal government says it will not force a person to buy health insurance if they really can not afford it. The specific regulation here is that a person is exempt from Obamacare if the lowest-priced “bronze” plan they can buy through the new state exchange marketplaces would cost more than 8 percent of your household income. You’re also exempt if your income is so low that you don’t have to file a tax return. The cutoff for that in 2013 is $10,000 for an individual or $20,000 for a couple. If a person is qualify for Medicaid, however they live in a state that has chosen not to expand Medicaid with federal ACA money, their exempt. A person is exempt if they are a member of a federally recognized Indian tribe or are eligible for coverage by the existing US Indian Health Service. A person exempt if they are serving time in jail and are not just awaiting trial. A person is exempt if they are an undocumented immigrant, because such immigrants are not eligible for Obamacare subsidies. Members of a recognized health-sharing ministry are exempt. (A health-sharing ministry is an arrangement where people of similar and sincerely held beliefs pool resources to pay for everyone’s care.) Members of some religions are exempt. However, these religions must reject all forms of insurance, including Social Security and Medicare., for example this applies primarily to the Amish and some Mennonites. If a person is uncovered by health insurance for only three months or less, they will not have to pay a tax penalty in 2014. Finally, the Department of Health and Human Services has established a general category of “hardship exemptions.” A person qualifies for this if they are homeless or facing eviction, or have filed for bankruptcy within the past six months, or have incurred substantial damage from a natural disaster, for example. Comments are welcome!!! Contact me to check out my website!!!!
Posted on: Mon, 18 Nov 2013 23:10:04 +0000
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