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Old 10-06-2018, 03:30 PM
 
15 posts, read 8,194 times
Reputation: 20

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I'm an American. I work online but the last few years my income has been extremely low. The thing however is i also been out of the US and either my income was very low or i was out of the us for at least 330 days of the year and because of that, I did not have to pay the health insurance penalty.


I read that if you don't have health insurance you are suppose to pay 2.5 percent of your income or 695 dollars... whichever is higher... is that correct? I believe previous years, it was 1 percent and the amount was much less than 695 right? Now here is what has me a bit confused. So if your income is say 10000 dollars, you don't own any penalty because its below the threshold correct? What is the threshold for 2018? So if someone makes 30000 dollars, that means they would owe 30000 x 2.5 percent = 750 dollars in penalties? So what if someone makes say 100000 dollars then. They owe 2500? So there isn't a limit to this if someone didn't buy health insurance? So if someone makes like 300k but didnt buy health insurance at the beginning of the year, they owe like 7500 or something?


The thing is for me the last few years, i was either outside of the US at least 330 days or i wasn't i didn't had to pay any health insurance penalty because my accountant said i was below that amount in terms of income. But i then read online that starting 2019, there is no more health insurance penalty for people in the US... is that correct? I read trump didn't like it and was going to do something about it. So is it confirmed that there is no penalty for not having health insurance starting in 2019?


What i want to know is what is the cheapest plan you could buy in the US where you don't have to pay for the health insurance penalty? For me, when i visit a doctor outside the US i just pay by cash. Buf if i visit doctor in the US which i did a while back when i had no health insurance, i paid by cash and it was very expensive.


I might have to pay a penalty for health insurance for 2018. but that would depend on the rest of the year with my income and with the 330 day out of the US. But could someone tell me how much one could have paid for health insurance coverage where they did not have to pay a penalty? Like is it a small amount like $300 for the year and you don't have to worry about health insurance penalty regardless of your income? Or is it at least the $695 amount? Im from New York if that matters.


Also few other things i want to mention. The only health insurance i ever had was medicaid and that was when i was younger and that was due to my family income having a very low income. So i was on that till i was early-mid 20s. After that, i never had any health insurance after that.


I'm extremely clueless when it comes to this. I never had a real job so to speak with an actual paycheck. Thus i work online and basically work as self employed and file taxes that way. Thus when i hear about deductibles etc, i don't have a clue what that means.
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Old 10-13-2018, 03:25 PM
 
Location: Las Vegas (Winchester)
620 posts, read 410,356 times
Reputation: 758
You won't be penalized in 2019 for not having insurance.

https://www.healthinsurance.org/obam...ty-calculator/
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Old 10-15-2018, 04:50 PM
 
5,552 posts, read 3,105,214 times
Reputation: 5613
Quote:
Originally Posted by marky2 View Post
I'm an American. I work online but the last few years my income has been extremely low. The thing however is i also been out of the US and either my income was very low or i was out of the us for at least 330 days of the year and because of that, I did not have to pay the health insurance penalty.


I read that if you don't have health insurance you are suppose to pay 2.5 percent of your income or 695 dollars... whichever is higher... is that correct? I believe previous years, it was 1 percent and the amount was much less than 695 right? Now here is what has me a bit confused. So if your income is say 10000 dollars, you don't own any penalty because its below the threshold correct? What is the threshold for 2018? So if someone makes 30000 dollars, that means they would owe 30000 x 2.5 percent = 750 dollars in penalties? So what if someone makes say 100000 dollars then. They owe 2500? So there isn't a limit to this if someone didn't buy health insurance? So if someone makes like 300k but didnt buy health insurance at the beginning of the year, they owe like 7500 or something?


The thing is for me the last few years, i was either outside of the US at least 330 days or i wasn't i didn't had to pay any health insurance penalty because my accountant said i was below that amount in terms of income. But i then read online that starting 2019, there is no more health insurance penalty for people in the US... is that correct? I read trump didn't like it and was going to do something about it. So is it confirmed that there is no penalty for not having health insurance starting in 2019?


What i want to know is what is the cheapest plan you could buy in the US where you don't have to pay for the health insurance penalty? For me, when i visit a doctor outside the US i just pay by cash. Buf if i visit doctor in the US which i did a while back when i had no health insurance, i paid by cash and it was very expensive.


I might have to pay a penalty for health insurance for 2018. but that would depend on the rest of the year with my income and with the 330 day out of the US. But could someone tell me how much one could have paid for health insurance coverage where they did not have to pay a penalty? Like is it a small amount like $300 for the year and you don't have to worry about health insurance penalty regardless of your income? Or is it at least the $695 amount? Im from New York if that matters.


Also few other things i want to mention. The only health insurance i ever had was medicaid and that was when i was younger and that was due to my family income having a very low income. So i was on that till i was early-mid 20s. After that, i never had any health insurance after that.


I'm extremely clueless when it comes to this. I never had a real job so to speak with an actual paycheck. Thus i work online and basically work as self employed and file taxes that way. Thus when i hear about deductibles etc, i don't have a clue what that means.

Trump eliminated the mandate/obama-tax that requires you to have health insurance or be fined. You wont be paying a dime.
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Old 10-24-2018, 12:27 PM
 
4 posts, read 1,286 times
Reputation: 10
There are a lot of exceptions for 2018 to paying the penalty. Most likely you would qualify for an exemption.
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