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Thursday, November 14, 2013

Just the phrase "shared responsibility payment" makes me want to puke. This is such a government overreach.

Date: October 28, 2013

Subject: Shared Responsibility Provision Question and Answer


Q: Will any individual who enrolls in coverage through the Marketplace by the end of
the open enrollment period for 2014 have to make a shared responsibility payment in
2015 for the months prior to the effective date of the individual’s coverage?

A: Starting in 2014, the individual shared responsibility provision requires each
individual to maintain health coverage (known as minimum essential coverage), qualify
for an exemption from the requirement to maintain minimum essential coverage, or make
a shared responsibility payment when filing a federal income tax return. To help make
coverage affordable for millions of individuals and families, the Affordable Care Act
provides, among other things, a premium tax credit to eligible individuals and families to
help pay for the cost of health insurance coverage purchased through Health Insurance
Marketplaces.