What Liberty HealthShare Members Need To Know
Claiming your exemption as a member of a healthcare sharing ministry is a relatively simple process.
by Dale Bellis, Executive Director
April 15th is just around the corner. The urgency to get your taxes done is building! The 2014 tax year is the first year in which being uninsured will cause individuals and families to be penalized. Taxpayers without health insurance will have to pay a "Shared Responsibility Payment." However, members of Liberty HealthShare are exempt from this additional tax during the months in which their membership is active.
Members of recognized healthcare sharing ministries are exempt from the Affordable Care Act's individual mandate, which is the requirement that every American purchase health insurance or face penalties. Under the law, by March 31st, you must purchase health insurance, be exempt, or face a fine imposed and collected by the IRS.