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. |