Healthcare.gov has a Obamacare exemption tool which will inform customers whether they qualify for an Obamacare exemption or whether they will be required to pay a fee arising from the shared responsibility provision of the ACA — otherwise known as the individual mandate. The tool evaluates the taxpayers status relating to the 2015 calendar year (or 2014 if desired).
The tool makes it clear that it the exemption qualification tool itself does not serve as an application for the exemption that the taxpayer might qualify for
The taxpayer then goes through several screens, some with followup questions that are necessary to determine whether eligibility for Obamacare exemptions exists
After completion of the questions necessary to determine eligibility for exemptions, the tool provides links to the next steps that the taxpayer should take to apply for the exemption.
The tool is anonymous, and you do not need to add any personal identifiable information to complete.
As the individual mandate penalty continues rise it should be a useful tool for the uninsured to utilize in order to verify they qualify for an exemption if they believe they qualify.
In 2016 the penalty for not enrolling in a qualified health plan is the greater of:
- 2.5% of household income (maximum: annual premium for national average price for bronze plan)
- $695 per adult + $347.50 per child in household. (maximum: $2,085)
These penalties have risen each year since the inception of Obamacare.