10-04-2013, 01:13 PM
Insurance is, in fact, a scam, not to be confused with "healthcare".
Per my read of the regulations, you are exempt from both the coverage requirement and the fine if the insurance would cost more than 8% of your MAGI. (For most people, this is the same as your AGI; the modifications involve passive activity income that the "average" taxpayer will never experience.)
HMSA quoted me $500/month; my AGI is nowhere near $75K/year, presto, I'm exempt ... and guess what? I still don't have insurance.
Per my read of the regulations, you are exempt from both the coverage requirement and the fine if the insurance would cost more than 8% of your MAGI. (For most people, this is the same as your AGI; the modifications involve passive activity income that the "average" taxpayer will never experience.)
HMSA quoted me $500/month; my AGI is nowhere near $75K/year, presto, I'm exempt ... and guess what? I still don't have insurance.