Treasurygov minimum coverage includes being under the

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(www.treasury.gov). Minimum coverage includes being under the coverage of one of the following plans: employer-sponsored coverage (including COBRA coverage and retiree coverage), coverage purchased in the individual market, Medicare coverage (including Medicare Advantage), Medicaid coverage, Children's Health Insurance Program (CHIP) coverage, certain types of Veterans health coverage, and TRICARE. The provision allows many Americans who are insured today, to remain under the coverage of their insurance once this provision takes effect in 2014. For those Americans who currently do not have insurance or wish to change insurance in the near future, Health Insurance Marketplaces will be available in every state starting at the end of 2013. These marketplaces will be able to help uninsured Americans find the right health insurance that will fit their budget and will help them avoid the tax that will take effect in 2014 if they do not have that minimum coverage that will have to be sent in with their individual tax return. There are however certain exemptions for individuals who will not be required to follow the provisions of the Individual Shared Responsibility Provision. There is an exemption for a religious conscience. This exemption allows members of religious sects who are conscientiously opposed to accepting insurance payments to not be subject to any tax that may result from not obtaining the minimum coverage. Members of a recognized health care sharing ministry and members of Indian tribes are not subject to this provision either. Those individuals who are not required to file an income return because their income is below the minimum threshold are also not subject to the requirements of this provision. If an individual goes without coverage for less than three consecutive months during the year, beginning 2014, no tax will be assessed. Any individual who is incarcerated or not lawfully present in the United States will be exempt as well. The Individual Shared Responsibility Provision also exempts those individuals who cannot
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afford coverage if the minimum amount they would have to pay for health premium would be more than eight percent of that individual’s household income (www.irs.gov). The final exemption, which has been lauded as a “key exemption,” is for hardship. An individual will qualify for this exemption when the Department of Health and Human Services has determined an individual ‘has suffered a hardship with the respect to the capacity to obtain coverage.’ (www.irs.gov). The religious conscience exemption and the hardship exemption are available only by going to a Health Insurance Marketplace. This market is also known as an Affordable Insurance Exchange. An individual must apply for an exemption certificate and be approved. For members of Indian tribes who wish to obtain the exemption, an exemption certificate is needed.
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