hard to know when, and if, federal regulators will let Patient Protection and Affordable Care Act (PPACA) coverage mandate penalty provisions take
Obama administration sticks with the PPACA interpretations it's announced so far, many consumers who fail to own what the government classifies as minimum essential coverage (MEC)
under Internal Revenue Code (IRC) Section 5000A will have to pay a "shared responsibility" penalty equal to 1 percent of their income for the year.
Department of Health and Human Services (HHS) and the Internal Revenue Service (IRS) have developed a long list of reasons taxpayers can use to qualify for "hardship exemptions" from the mandate
penalty. Avenues for qualifying for a hardship exemption include going to prison, following a religion that objects to insurance, and joining a recognized health care sharing
ministry.To use many of those reasons, a taxpayer must obtain hardship exemption certification from a PPACA health insurance exchange.
IRS has come out with IRS Notice 2014-76, a document that lists deluxe hardship exemption justifications -- justifications a taxpayer can use without bothering to get certification from the
local exchange. Health insurance clients may have a hard time using these justifications, but, if they can, they may be able to avoid some
paperwork as well as the PPACA individual coverage mandate penalty.To learn what those
justifications are, read on.
GO HERE TO SEE IRS REGULATIONS AND ALL EXCEPTIONS AVAILABLE