On December 19th, 2013 President Obama announced that:
Anyone who can show that their individual or family policy has been cancelled, will be eligible to buy a “catastrophic” plan through the exchange and qualify for a “hardship exemption”. See list of reasons below.
This means they would not be fined if they can’t, or don’t, enroll in a health insurance plan. These catastrophic plans, however, cannot get a subsidy.
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Possible reasons for exemption to the Tax Penalty
Exemptions From Having To Pay The Tax Penalty
♦ The individual is uninsured less than 3 consecutive months
♦ The lowest priced insurance plan available would cost more than 8.13% of the household income
♦ The individual does not have to file a tax return because income is too low
♦ The individual is a member of federally recognized Indian tribe
♦ The individual is a member of a health care sharing ministry
♦ The individual belongs to a religious sect with objections to receive insurance benefits and Social Security and Medicare
♦ The individual is incarcerated
♦ The individual is not legally present in the USA
♦ The individual has a hardship determined by the Dept. of HHS for example:
◊ Become homeless
◊ Has been evicted in the past 6 weeks or is facing eviction or foreclosure
◊ Child is denied Medicaid and CHIP and another person is Court ordered to cover that child
◊ Received a shut-off notice from a utility company
◊ Recent death of a close family member
◊ Recent fire, flood, natural or human-caused disaster resulting in substantial damage to individual property
◊ Filed bankruptcy in last 6 months
◊ Recent domestic violence
◊ Substantial medical debt in the last 2 yrs
◊ Unexpected expenses d/t caring for an ill, disabled, or aging family member
◊ Time frame to appeal and overturn a denial of eligibility to get a Marketplace plan
◊ Lost individual plan and believes other coverage options are unaffordable
◊ Other hardships obtaining health insurance
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