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Old 04-22-2017, 02:40 PM
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Join Date: Apr 2017
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Unhappy obama care tax penalty

I live in nyc, according to the health care act if the bronze level cost was over 8.5 % of my income I would be exempt. i am filing for the last 3 years 14, 15, 1nd 16. Do they check on the rates or do you have to prove it and how would you prove it for this year and for 15 and 16?
thanks



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Old 04-23-2017, 03:00 AM
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Join Date: Oct 2010
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you are exempt from ObamaCare?s mandate to ?obtain minimum essential coverage if you are a person who would have to pay more than 8% of your household income (MAGI) for the lowest priced Marketplace Health Insurance after subsidies qualify for this exemption you must obtain minimum essential coverage and maintain it throughout the year or get an exemptionThe easiest way to qualify for an exemption is to go to HealthCare.Gov and sign up for a marketplace account. When you sign up, you automatically find out if you qualify for some exemptions, and you might discover that you qualify for lower costs on coverageTo report an exemption to the IRS, you?ll use Form 8965, Health Coverage Exemptions Some exemptions require you to report Electronic Confirmation Numbers sent by the Marketplace upon approval of your exemption application. You?ll attach that form to your 1040 when you file your taxes.



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