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Tag Archive for Affordable Car Act

How To Qualify For Exempt Under The Affordable Care Act (Obamacare)

Under the Affordable Care Act, individuals must fall into one of the following 3 categories: (1) Those who have qualifying health insurance (minimum essential coverage), (2) those who qualify for an exemption from the responsibility to have minimum essential coverage, or (3) those who are required to make the shared responsibility payment (penalty) when they file their federal income tax return.
Those who fall in category 2 are exempt from the requirement to maintain minimum essential coverage and thus will not have to make a shared responsibility payment (penalty) when they file their federal income tax return.

Generally, you may be exempt if you: (a) have no affordable coverage options because the minimum amount you must pay for the annual premiums is more than eight percent of Read more