TurboTax launched an online tool Wednesday that helps people figure out if they qualify for one of dozens of exemptions to the part of Obamacare that requires Americans to hold health insurance or pay a tax penalty.
The company said it will take less than three minutes for users to figure out if they can secure a carve-out from the “individual mandate,” which took effect at the start of this year, by answering a few questions about themselves and their families.
Persons who lacked insurance for more than three months straight in 2014 must pay the greater of $95 or 1 percent of their income over the filing threshold. The penalties, which will increase sharply over the next two years, are processed through the IRS during tax season.
“Exemption Check provides a simple, free way for hard-working Americans without health insurance to determine if they’re eligible to waive the tax penalty,” said Sacha Adam, the Affordable Care Act product leader for TurboTax. “It’s a vital service we’re proud to offer consumers.”
Obamacare includes several statutory exemptions from the mandate for — among others — prisoners, members of health care sharing ministries or people who cannot afford coverage because the cheapest exchange plan is more than 8 percent of their household income.
There are also 14 hardship exemptions that cover people who, for instance, are homeless, experienced domestic violence or could not get Medicaid coverage because they live in a state that chose not to expand the government program under Obamacare.
• Tom Howell Jr. can be reached at thowell@washingtontimes.com.
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