February 2, 2015 by Tony Novak
What is the legal threshold of “affordable health insurance” for tax and penalty testing purposes? Is it 8% of households income or 9.5% of household income? Both have been used in government publications. Right now we don’t know for sure and there is plenty of discussion among tax and benefit professionals.
In a few weeks we expect to have clarification in a new version of IRS Pub 957. My bet is that government settles on a consistent 8% of household income for all tax testing purposes.