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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28087
Experience:  Taxes, Immigration, Labor Relations
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I'm a USAF Retiree. Do I have to have medical insurance

Customer Question

I'm a USAF Retiree. Do I have to have medical insurance coverage?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

as USAF Retiree you might be eligible for medical insurance via VA medical benefits, TRICARE and there are some other supplemental insurance options.
If you are using any of these - generally you are considered as covered and would not need to have any additional medical insurance.

Expert:  Lev replied 1 year ago.

Starting in 2014, the individual shared responsibility provision calls for each individual to either have minimum essential coverage for each month, qualify for an exemption or make a payment when filing his or her federal income tax return.

There are a few basic tips to keep in mind about the new health care law. Health insurance choices you make now may affect the income tax return you file in 2015.
1.Most people already have qualified health insurance coverage and will not need to do anything more than maintain qualified coverage throughout 2014.
2.If you do not have health insurance through your job or a government plan, you may be able to buy it through the Health Insurance Marketplace.
3.If you buy your insurance through the Marketplace, you may be eligible for advance payment of the premium tax credit to lower your out-of-pocket monthly premiums.
4.Your 2014 tax return will ask if you had insurance coverage or qualified for an exemption. If not, you may owe a shared responsibility payment when you file in 2015.

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