health insurance

30 ways to not be penalized for failing to sign up for health insurance

Though there is a penalty for the slave-like "Affordable Healthcare Act" requirement to sign up for health insurance, 20 million people qualify for an exemption. Here is a direct excerpt from the article on ducking the bailout for the health insurance industry:

  • Affordability . The lowest-priced health insurance available would cost more than 8 percent of your household income.
  • Medical expenses . You had medical expenses you couldn’t afford to pay in the last 24 months, which resulted in significant debt.
  • Cancellation . You had insurance that was canceled, and the other plans were unaffordable.
  • Utility shut-off . You received a notice for shut-off from a utility company.
  • Difficulty signing up . You had issues signing up through your state or federal marketplace.

There are several other reasons you may be exempt from the tax penalty. According to Intuit:

Exemptions are also available because of homelessness, eviction, foreclosure, bankruptcy, the death of a close family member or an experience with domestic violence. Members of Native American tribes also are not required to sign up for health insurance.