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Form 8965 online Mecklenburg North Carolina: What You Should Know
Part I: Marketplace-Sponsored Exemption If you qualify for either of the following, file Form 8965, Health Coverage Exemptions, with your 2023 income tax return: If you're in the military or covered by the Veterans Affairs Health Care Program, then you're covered only with a Marketplace-sponsored Health Insurance Plan. If you're covered under a Marketplace-sponsored health plan (either Marketplace health insurance or a plan purchased by you from a Marketplace-approved health insurance Marketplace broker), then you don't have to file a tax return, and you can claim only the standard deduction. If you are not eligible for either of these programs, then you and your family can still make a shared responsibility payment. The Shared Responsibility Payment. You must make the Shared Responsibility payment. You should also keep a copy of Form 8965, even if you never pay it as it may be helpful for future disputes. The Shared Responsibility payment (in part or in full) is: Income. If you receive income from any sources, including wages, pensions, pension plan contributions, and rental income, then the amount you have to pay out is the least of: 1) 10% of the excess of the first 2,550 of any income above 26,150 in any calendar year to the IRS, or 2) 1/10 of 1% of your adjusted gross income over 60,000 in any calendar year. If you file an income tax return, and you have not received an exemption from paying the shared responsibility payment, but you are claiming one, then you should: For more information, please see the IRS website (Go to IRS.gov for instructions) or the Shared Responsibility payment (Forms 8965) instructions on the Department of Health and Human Services website. Payment of Partial Shared Responsibility Payment If you are covered under a Marketplace-sponsored health plan (either Marketplace health insurance or a plan purchased by you from a Marketplace-approved health insurance Marketplace broker), you can choose to make a “partial” Shared Responsibility payment for a portion of your excess medical expenses. You may make this payment by using: (a) Your Marketplace health insurance premium; or (b) A portion of one of those premium payments (51.50 or 73.50, as applicable, if you are filing as a single person, or 103.00 or 138.
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