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.
We can help you with this. Call us for assistance (702) 898-0554
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
Recent Posts
What Is a Health Insurance Carrier?
A health insurance carrier provides plans to cover medical expenses, like doctor visits and prescription medications. Understanding your insurer’s network, plan types (HMO, PPO), and costs (premiums, deductibles) is key to choosing coverage. In Nevada, carriers collaborate with Nevada Health Link to offer ACA-compliant plans, ensuring access to preventive care and essential benefits. Learn how to select a dependable health insurance company and manage costs effectively.
What is a Prescription Drug Deductible?
In the world of health insurance, “deductible” is a common word. It refers to an amount of money that you pay out of your pocket before the insurance company begins to pay. A prescription deductible is the portion you’d pay first, then after you’ve paid the deductible, you may only have to pay a co-pay when you pick up your medication.
If you are single, you would only have to meet your prescription deductible. If you have two or more people in your family, each member may have to meet their own prescription deductible which could be up to 2 deductibles in the family. A prescription deductible is different and separate from the medical deductible, unless otherwise stated. One deductible is for medical, ie: hospitalization, doctors, etc., and the other deductible is for filling your prescriptions.
Are Ambulance Rides Covered By Health Insurance?
If you have a qualified health plan (QHP) the answer is yes, ambulance rides are covered. A QHP is an insurance plan that is certified by Nevada Health Link in Nevada that covers “10 essential health care benefits” including emergency transportation. You may need to pay a deductible, co-payment, or co-insurance for your ambulance trip.