Not sure what to do about health insurance?

  • by Ella
  • Dec 12,2017
  • 9 answers

My boyfriend started working full time for the first time in January of 2017. By the end of the year he will have made just over 20,000 dollars so it will be his first time filing his taxes. He hasn t had health insurance the entire year. He just recently found out he can be fined if he doesn t have health insurance, and I ve read it isn t cheap. Yesterday he applied online for health insurance and was accepted, but still needs to pay the first fee so he can get his cards in the mail. Will he be fined for the year of 2017 for not having insurance? Or will joining for 2018 prevent this?


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Insurance Answers (9)

H. Marie 6 months ago

there are some exclusions which he needs to learn, there are booklets at www.irs.gov which explain the health insurance requirements

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Beverly S 6 months ago

He will be fined.

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Badge203 6 months ago

There will be a penalty for 2017, 2018 will not be effected

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mbrcatz 6 months ago

Yes, he will be fined for 2017. It's too late to do anything about that.

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StephenWeinstein 6 months ago

Each year is separate. Joining for 2018 will not prevent the fine for 2017.

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David B 6 months ago

I think this is a question for a tax professional. In theory, if he didn't need to file a tax return for 2016 he wasn't eligible for insurance under the ACA, therefore, he wouldn't be fined. However, to be certain I think he should consult a tax professional. It should be a relatively simple question to get answered.

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Marie K 6 months ago

probably fined, not sure how that works as I have had insurance since before the fine system started
https://www.nerdwallet.com/blog/health/h...

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Casey Y 6 months ago

Time to get an accountant, his situation is tricky.

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curtisports2 6 months ago

He's going to owe the fine for 2017. If he has a tax refund coming, that can go toward covering the fine. If the refund isn't enough to cover the entire fine, then the fine is effectively reduced to the amount of refund taken. In any case, the fine will be much smaller than what he would have paid in premiums to avoid the fine. The way to look at it is that he rolled the dice and won - for this year. Pay the fine and hope you don't get sick, or pay more for insurance. Many people choose to take that chance. The fine has increased from the tiny amount it was to sucker people into thinking Obamacare was a good idea, but the fine is still much less than what people have to pay for insurance that still requires them to pay thousands out of pocket in deductibles before the insurance pays for coverage. So many people are still choosing to roll the dice.

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