Commonly asked questions about filing taxes.
Here are some answers to commonly asked questions about filing taxes as Impact Health Sharing members. It's important that you should always seek the advice of a tax professional for details specific to your needs.
Impact Health Sharing is not insurance and Impact Health Sharing members cannot deduct their monthly share portions from their federal income tax unless you are a resident of Missouri, where you can deduct share amounts from your State income taxes.
Health Savings Accounts (HSA) only work with high-deductible health insurance plans, this means that members of health care sharing ministries are not able to take advantage of HSAs. Impact Health Sharing membership fees/donations are not reimbursable according to IRS guidelines.
State Exemptions: The only states requiring exemption forms for the tax year 2021 are California, Massachusetts, New Jersey, Rhode Island, and the District of Columbia (D.C.).
For more information on filing taxes in any of the states listed above, visit the link to your specified state below:
If your state is not mentioned above, there is no current state requirement to purchase health insurance or have an exemption. This means for the tax year 2021, you do not need to fill out any specific federal tax forms indicating that you were a member of Impact.
When working with a tax professional you may be asked if you have insurance, your response should be "no". Most likely you may be asked if you were part of a Healthcare Sharing group and then asked what months you were a member.