I am single and worked two different jobs.(job 1 from January thru June) (job 2 July thru December) Neither job offered health insurance. I didn't have health insurance all year. My monthly income from job 1 was below the poverty federal poverty level but my income from job 2 was substantially higher and would have not qualify for the exemption from the ACA penalty. My total income in 2014 totaled $35K.
How is the penalty calculated. How is the "no affordable health insurance options" exemption applied when my total income for the year was $35K but the 1st six months it was very low (below the poverty level)
Is each months income multiplied by 12 to determine the projected annual income and is that the figure used to determine if that month is eligible for the "no affordable health insurance options" exemption.
- posted 5 years ago