What are the penalties if I don’t meet the mandate or qualify for an exemption?
Most adults who did not have health insurance by Dec. 31, 2007 will lose their personal income tax exemption when they file their 2007 state income taxes. That exemption is worth $219. The penalties for 2008 are higher. Starting January 1, 2008, you will be penalized for each month that you stay uninsured. The monthly penalties are based on ½ of the cost of the lowest-priced Health Connector plan available to you. There is a 63-day grace period when people can be uninsured without incurring penalties. The penalties are set by the Massachusetts Department of Revenue. 2008 tax penalties for adults who don’t qualify for a government-subsidized plan: • $56 each month or $672 for an entire year for people age 26 or younger. • $76 each month or $912 for the year for people age 27 or older. These penalties are based on the private health plans that are available from major insurance companies through the Health Connector’s Commonwealth Choice program. You may be eligible for subsidized Common
Related Questions
- What are the penalties for those who don’t meet the individual responsibility requirement? And are there exceptions?
- What criteria must international graduate teaching assistants meet to qualify for a Certificate of Eligibility?
- What are the penalties if I don’t meet the mandate or qualify for an exemption?
