This post was contributed by a community member. The views expressed here are the author's own.

Health & Fitness

What does Healthcare have to do with taxes?

What does healthcare have to do with taxes?

For the new healthcare reform act everyone who wants to apply for a federal subsidy must have a tax return from tax year 2012.  When the federal exchanges open in October of 2013 you can apply to get a federal subsidy to help pay your insurance costs if you purchase health insurance through the exchange.  If you do not have health insurance for tax season 2013 you will get a penalty from both the state of Massachusetts and the Federal government.  These penalties could be hundreds of dollars from each tax authority. 

We’ve removed the ability to reply as we work to make improvements. Learn more here

The views expressed in this post are the author's own. Want to post on Patch?