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Obamacare question

Posted: Jan 23, 2016

Can someone help me understand how to do my taxes with regard to this program? I didn't have insurance last year (decided to squander the $$ on food) and I can't for the life of me understand the instructions. I either owe 50 cents or a quarter-million. Can some kind soul save my sanity? TIA anon

;

Go ACA.gov - Old Anon

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to see if they have any advice on how to figure this out on your tax return.

Try this link...SM - Old Anon

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re: Filing your taxes.

ACA question - anon

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Thank you so much for your replies. I will try your suggestions.

Unfortunately it may have been free - Penney-wise, pound foolish

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A broke MT earning around less than $12,000 per year would qualify for free health insurance. If less than $30,000 a year, quite a reduced premium. You could earn all the way up to $47,000 and still qualify for a subsidy. Different states have different options.

Any of those options would be better than having no insurance and having to pay a fine of $325.

Open enrollment for next year goes until Jan 31st, I believe. Check out this site.

https://www.healthcare.gov/lower-costs/qualifying-for-lower-costs/

and

https://www.healthcare.gov/fees/fee-for-not-being-covered/#2015

There is an option regarding employers who offer expensive insurance, but you really would need to talk to an ACA representative to find out your individual options. I would caution against calling an advertised number on TV or elsewhere as it looks to me like a lot of places are pulling "bait and switch" scams.

If your choice is between health insurance or some other necessity, I would check into a local food shelf and or help through SNAP. There is an energy assistance program that helps with utility bills/heating costs in winter. Seek these out if you need the help.

Not anon - but

[ In Reply To ..]
I also did not have insurance last year by choice. I did make less than 30,000 last year, but did not qualify for the ACA subsidy because I had insurance available through my employer. The insurance is about 100 a month for catastrophic coverage. I weighed the costs and thought 325 is less to pay than 1200 for something I cannot even use. Anyway don't they just take the fine out of your refund and if no refund, they still cannot force you to pay? I found the answer to my question from your helpful link. They can only take the fine from your now or future tax refunds, no criminal penalties or liens. I will just keep going with the cheapest option, you gotta keep food on the table and a roof over your head. I do get assistance from the state for my utilities and phone and I don't own a cellphone.

To the OP, I use HR Block online tax preparation (free) and my state has a free online site also. Last year, the HR Block figured the fine for me and it was all done. It was kind of annoying how many questions I had to answer about not having insurance, but in the end, no problems. Hope this helps.

I wish they would get rid of the employer insurance loophole - sm

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I think all the plans on the exchange must provide health maintenance for free. That includes annual exams, Paps, mammograms, scheduled colonoscopies, etc.

I hope you still have some community health organization in your area where you can get low cost/free care. I know I don't know what I would do with my chronic bronchitis flaring this winter and my husband's terrible infection/cellulitis in his hand.

In regards to the employer insurance, I think you can refuse your employers insurance and buy off the exchange, but you lose your subsidy option. There is also some way of figuring out the cost of employer insurance as a percentage of your income that might help some qualify. That is why it is always best to actually talk to someone from the exchange so you can weigh all your options.

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