Broker Check

The Individual Mandate

An Overview of The Individual Mandate

  • Unless exempt, everyone must have insurance beginning in 2014
  • IRS released a draft version of form 8965 - Health Coverage Exemptions
  • Coverage must meet minimum Federal Requirements
  • Both Taxpayers and Dependents must be covered
  • New information returns (Form 1095A, B, and C) will be issued to prove health insurance participation
  • Non-compliance results in penalties 

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