Waivers can be obtained for certain personal situations in order to avoid a Obamacare fine known as the Shared Responsibility Payment. This was especially true for the first year of implementation of the ACA’s Individual Mandate.
Many scenarios will arise whereby unique cases are somewhat questionable or conflict with the law as it was legally written. As a result, the Treasury Department and HHS have shown a willingness to provide waivers. These special waivers are not to be confused with regular exemptions which are more clearly defined under the law.
Waivers, a form of exemption, may be claimed by filling out Form 8965, Health Coverage Exemptions and attaching it to your Federal Tax Return.
Types of Obamacare Waivers
The most notable ACA waiver is for people who lost their insurance during 2013. Those people do not need to participate in Obamacare during 2014 whatsoever and do not face any penalty as a result.
More Waiver information coming soon!