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Hialeah Florida online Form 8965: What You Should Know
Exemptions 1. Employee The minimum essential coverage that should be maintained for any employee for any month of the year may be subject to an exemption from the premium tax, as follows. The employee must have coverage through an Exchange The employee must be covered under his or her salary reduction election The employee must have coverage through the Exchange The employee is filing a federal income tax return for the year in which the coverage is provided The employee's employer offered such coverage in the taxable year The employer pays the premium for coverage The employee must maintain the minimum essential coverage for all months of the year The employer pays part of the cost of the coverage Part II. Exemptions from the Income Tax on Qualified Health Plan Premiums 1. Qualified individual Health plan premiums paid by qualified individuals for health insurance purchased in the Exchange may not be exempt from coverage tax, as follows. The qualified individual's enrollment period must end after the first day of the month for which the premium is paid The qualified individual's enrollment period must end by the close of the 2nd month for which the premium is paid and the total premium for all months during the year The premium paid on or before the effective date of the individual mandate must be attributable to coverage for more than 90 days during the individual's enrollment period The qualified individual's spouse and/or children must meet the following conditions to qualify for an exemption from the premium tax: (1) The individual is eligible for minimum essential coverage as defined under section 5000A, (2) The individual has an eligible child whose coverage is also exempt from the premium tax, and (3) The amount of the premium paid on or before the effective date of the individual mandate is the greatest of 400 or the greatest of the individual's household income for Q1 through Q3, which is at least 100 percent, or 400, plus 2,000, whichever is less, of the individuals household income for the taxable year, plus the greatest of 2,000, divided by the individuals household income for the taxable year The household income must be calculated by the income tax return preparer, the qualified individual's employer and the employee's spouse or common household. To determine income, the income must be reported on Schedule A (Form 1040). 2. Qualified family or household Health plan premiums paid by qualified families and households for health insurance purchased in the Exchange may not be exempt from coverage tax, as follows.
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