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People Who Had Health Insurance Dropped Now Qualify for Hardship Exemption
The Department of Health and Human Services announced December 19 that individuals whose insurance coverage was dropped will be able to qualify for a hardship exemption for 2014 and therefore will not owe the individual penalty for not having health insurance.
Starting in 2014, the Affordable Care Act requires individuals to have health insurance. There are some limited exemptions applicable to this mandate, which now include individuals whose insurance was dropped and were unable to find other affordable coverage. For a list of other exemptions, visit http://www.hhs.gov/healthcare
For more information about how Health Care Reform is affecting businesses, visit our Health Care Reform web page. |
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Eide Bailly's National Tax Office serves as a resource for clients to help analyze complex tax issues related to business decisions. Our professionals are committed to helping clients stay informed about tax news, developments and trends through various specialty areas, including cost segregation studies, wealth transfer, state and local taxation, international tax, tax exempt organizations and tax legislation. |
