By law, do i have to have medical insurance??????

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  • By law, do i have to have medical insurance??????


Answer #1 | 18/12 2013 21:35
By law, if you can afford insurance, then you must have it. However, the only enforcement of this is supposed to be a tax penalty. Your employer is not supposed to be involved in forcing you to follow this law. However, your employer is not allowed to let you cancel whenever you want without telling them why. There is only one time each year when you are allowed to cancel insurance through your employer without saying why. If you want to cancel at any other time, then you have to show evidence of a "qualifying event". If you don't show anything, then they can't let you cancel until the next "open enrollment", which is only once each year.
Answer #2 | 19/12 2013 04:04
By 03/31/13 you will have to either have health insurance, or pay a fine. That's the law. Right now, you CAN have no health insurance legally. Regarding being dropped from your plan through your employer OUTSIDE of open enrollment, the IRS only allows that for a "qualifying life event". You cannot drop your employer's plan, except during open enrollment once a year, without proof that you're covered elsewhere.
Answer #3 | 19/12 2013 05:32
You can only drop off your work's coverage during open enrollment or within 30 days of a "life event." Getting coverage through a spouse counts as a life event, but it is not on the honor system. You have to prove it. And it's only a spouse's employer's coverage...not an individual plan. I know you said employer, but in case anyone else was wondering. It otherwise has nothing to do with having to have health insurance. It has to do with having to stay on coverage through your employer for the entire enrollment to open enrollment.
Answer #4 | 19/12 2013 14:54
No it is not required next year you will pay a tax penalty for not being insured. You can buy Cobra insurance through your employer or look at a policy from your state or the federal exchange.

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