Yes, Impact Health Sharing is now available to New Jersey residents—With One Important Detail
Impact Health Sharing is now available to New Jersey residents—great news for those who value wellness, freedom of choice, and a more affordable path to healthcare. However, there’s one important detail to keep in mind: Impact is NOT insurance, and due to a New Jersey state law, if you don't have health insurance, you may owe a tax penalty called the Shared Responsibility Payment (SRP) when filing state taxes.
What is the NJ Shared Responsibility Payment (SRP)?
The New Jersey Health Insurance Market Preservation Act requires every New Jersey resident to either:
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Obtain health insurance that qualifies as Minimum Essential Coverage (MEC),
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Qualify for a valid exemption, or
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Pay a Shared Responsibility Payment (SRP) when filing their New Jersey state income tax return.
In short: NJ residents must have health coverage, be exempt, or pay a state penalty.
Does Impact Health Sharing qualify for an exemption in the state of New Jersey?
No. Impact Health Sharing meets the definition of a healthcare sharing ministry in most states. However, New Jersey’s law includes an additional requirement: To qualify for an exemption, the sharing organization must have been continuously sharing medical expenses since December 31, 1999.
Impact launched in 2020, so it does not meet that historical requirement. As a result, Impact members in New Jersey are not eligible for an exemption under the state’s current guidelines.
How is the SRP calculated?
The amount you may owe is generally based on:
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Your income,
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The number of people in your household, and
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A cap based on the statewide average annual premium for Bronze Health Plans in New Jersey.
To view or estimate your Shared Responsibility Payment for tax years 2019–2025, visit the New Jersey SRP Calculations Page or consult your tax filer.
Our commitment to transparency
At Impact, we believe in transparency and putting people over profits. We encourage you to explore all your healthcare options so you can make the choice that best supports your health, your budget—and your values.
Good news for seniors: If you're enrolled in Medicare Parts A and B, you already meet New Jersey's requirement for Minimum Essential Coverage (MEC)—even if you don't have a Medigap (Medicare Supplement) plan. You won’t face a state penalty for choosing not to purchase supplemental insurance.
Reference Links:
SRP Information: https://www.nj.gov/treasury/njhealthinsurancemandate/responsibilitypayment.shtml
SRP Calculator:
https://nj.gov/treasury/njhealthinsurancemandate/nj-himpa-calc.shtml
Exemption Information: https://www.nj.gov/treasury/njhealthinsurancemandate/exemptions.shtml