Is there a tax penalty for not having insurance?
As an Impact member, will I have to pay a penalty for not having insurance per the ACA?
As of January 1, 2018, Congress eliminated the individual mandate penalty.
Although there is no longer a Federal Tax penalty for not having insurance, California, Massachusetts, NJ, Rhode Island and the District of Columbia have tax penalties for residents who do not provide proof of Health Insurance or are a part of a Health Care Sharing ministry.
Check with your tax filer if you are a resident of one of the above.
Impact Health Sharing does not provide a 1095-A form.
That’s because Impact is not health insurance. It’s a health care sharing ministry, which means members share each other’s medical expenses voluntarily, outside of traditional insurance.
Since the 1095-A form is specifically for Marketplace insurance plans, it does not apply to Impact members.
If you’re filing your taxes and looking for documentation, keep in mind:
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There’s no 1095-A from Impact
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Impact is not required to send any ACA tax forms