Do You Qualify For Any Obamacare Exemptions?

Obamacare Exemptions

Understanding Obamacare Exemptions

Based on the rules and regulations set forth by the Affordable Care Act, each and every American must hold the minimum required health insurance or face a penalty. However, there are a few Obamacare exemptions that may excuse you for not having health insurance. In order to qualify for one of these exemptions, you must be able to provide the proper documentation. Gathered is a list of Obamacare exemptions that may excuse you from paying a tax penalty:

  • In the event that the lowest-priced available coverage would exceed 8 percent of your household income, you may be exempt from paying a penalty for not having health insurance.
  • Members of federally recognized tribes and health care sharing ministries are often exempt from Obamacare requirements and penalties.
  • You may also be exempt if you are affiliated with a recognized religious sect that has strict religious objections to insurance.

Hardship Obamacare Exemptions:

  • Being homeless exempts you from Obamacare requirements and penalties.
  • If you are facing foreclosure or eviction or were evicted in the past 6 months, you may qualify for an Obamacare exemption.
  • Likewise, individuals who have filed for bankruptcy in the past 6 months often qualify for the exemption.
  • The death of a close family member also allows you to avoid penalties under the Affordable Care Act.
  • If your plan is to claim your child as a tax dependent but your little one has recently been denied of coverage from a CHIP program or Medicaid program, you may qualify for an Obamacare exemption.
  • If financial hardships have resulted in an unpaid medical bill in the last 24 months, you may qualify for an Obamacare exemption.

Contact CorMarc Insurance Services in Murrieta for all of your California health insurance needs. Allow us to guide you through the process of purchasing a health insurance policy that clears you from paying a penalty and maximizes your security.