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Cambridge Massachusetts online Form 8965: What You Should Know
Exemptions. If your Marketplace health insurance coverage is grandfathered, continue to complete the following instructions only if you are still in good standing on the Marketplace, and haven't been notified that certain requirements have changed (see the f8965--2018 -2.pdf — Changes to Marketplace Exemption Information) and if you haven't re-opened the Marketplace. Part II. Changes to Exemption Information. You must also complete the following instructions if you have the following three exemptions listed below on your 2018 Form 8965. All the following exemptions are required if any of the following apply: Your spouse isn't insured through your Marketplace health insurance plan (or isn't otherwise eligible for a Marketplace plan that is grandfathered) Your child doesn't have coverage through your Marketplace health insurance plan Because you are in the top tax bracket, and either your income is over 95,000 for single filers or over 148,000 for married filing jointly, or your Adjusted Gross Income (AGI) is 125,000 or more, your exemption is reduced by a percentage. If you are married filing a separate return and your family size is the same, your exemption percentage is 4.34%. Exemption amounts are as detailed below. The following chart lists the percentage of exemption that must be used to obtain each exemption. Tax Forms & Tax Assistance — Cambridge Part I. Marketplace Exemptions. Each individual health insurance plan in the Marketplace (individual, small family, large family, or group) must have at least one coverage category that meets the following criteria: (1) The plan generally covers 100 percent of the costs of covered medical expenses; or (2) There are limitations on coverage that have a financial impact on the plan or the plan's issuer. Examples include: annual limits or maximums for out-of-pocket expenses, annual or lifetime limits on prescription drug and wellness expenses, annual limits on out-of-pocket medical, dental, and vision plans, and other limitations (not covered benefits), to ensure there are no health disparities among individuals enrolled in the plan. Exemptions must be used if you want to receive a coverage exemption for the calendar year. You can claim one exemption from another coverage exemption each tax year, but the total exemption will be the same as used for the calendar year. You do not use the same exemption for two years.
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