Broker Check

The Individual Mandate

Is The Individual Mandate still in force?

  • Yes, for tax years 2017 and 2018 there is still a penalty for not having insurance.
  • The penalty for not having insurance is repealed for tax years 2019 and later.
  • Unless exempt, everyone must have insurance.
  • IRS released form 8965 - Health Coverage Exemptions - which may be used to claim an exemption
  • Coverage must meet minimum Federal Requirements
  • Both Taxpayers and Dependents must be covered
  • Information returns (Form 1095A, B, and C) are now issued to prove health insurance participation
  • Non-compliance results in penalties for tax years 2017 and 2018

Have A Question?

Thank you! Oops!

Recommended Content

An Arm and a Leg

A visit to the hospital can be painful, for both your body and your wallet. Don’t let it be more painful than it has to be.

What Is an Annuity?

Annuities are versatile tools that can help you save for retirement and generate income in retirement.

Where Is the Market Headed?

We all know the stock market can be unpredictable. We all want to know, “What’s next for the financial markets?”