A refresher on the ACA’s tax penalty on individuals without health insurance

Now that Affordable Care Act (ACA) repeal and replacement efforts appear to have collapsed, at least for the time being, it’s a good time for a refresher on the tax penalty the ACA imposes on individuals who fail to have “minimum essential” health insurance coverage for any month of the year. This requirement is commonly called the “individual mandate.” Penalty exemptions Before we review how Continue Reading

New for 2014: Penalty for Not Complying with the Individual Mandate

Starting this year, a provision in the Affordable Care Act generally imposes a penalty on individuals who fail to carry so-called minimum essential health insurance coverage. The requirement to carry such coverage is often called the individual mandate, and the penalty is the cost for failure to comply with the mandate. This article explains what you need to know about the Continue Reading