Affordable Care Act: Covering Your Dependents

Unless you qualify for an exemption, you are required to have health insurance or Medicare coverage for you and your dependents. Otherwise you must pay a penalty. We must know if your dependents are covered and how they filed their tax returns to determine if you are subject to a penalty. Even if your dependents live in a different household, you must be able to document that they were covered by health insurance last year. The IRS WILL NOT PROCESS ANY RETURNS THAT DO NOT ANSWER THE QUESTION ABOUT WHETHER YOU AND YOUR DEPENDENTS HAD HEALTH CARE COVERAGE.

For the new Tax Cut and Jobs Act of 2018, the PENALTY has been eliminated in 2019, but the MANDATE remains.  You are still REQUIRED to have health insurance because the Affordable Care Act has not been repealed or replaced at this time, but you will not be charged a penalty for not having it. The penalty remains in place for tax year 2018.