As most of you know, failure to be insured in the US will mean paying a fee of $325 or 2% of your taxable income (whichever is higher) this year. This penalty is one of the ways in which the Affordable Care Act (ACA) works to “incentivize” signing up for health insurance, but in reality it often just punishes poor people for being too poor to have health insurance.
The penalty was just $95 in 2014, but it’s climbing every year in an attempt to make everyone get insured. In 2016, the fee jumps up to over $600, or 2.5% of your annual income (again, whichever is higher).
But did you know that you are exempted from this penalty if your health insurance was cancelled, you experienced the death of a family member, you were a victim of domestic violence, you suffered from a natural disaster, you were evicted from an apartment, or you were homeless?
Of course, it is wise to invest in health insurance and avoid the ACA fees entirely if you can swing it. But, if you are under dire financial straits, you probably can’t afford monthly health insurance premiums. You don’t deserve to be stuck with a hefty fee to the IRS because of that. So, fill out this form, mail it to the exemptions processing center, and get your penalty waived. Qualifying exemptions include:
3. Shut-off notice
4. Domestic violence
5. Death of family member
8. Medical expenses
9. Increase in expenses to care for family member
10. Medical support for child
11. Eligibility appeals decision
12. Ineligible for Medicaid
13. Cancellation of individual coverage
Originally published at erikadprice.tumblr.com.